NICKEL CREEK PLATINUM ANNOUNCES EXERCISE OF WARRANTS BY ELECTRUM

Rhea-AI Summary

Nickel Creek Platinum Corp. (TSX: NCP) (OTCQB: NCPCF) announced the exercise of approximately 11.4 million warrants, resulting in proceeds of around $911,000 from its largest shareholder, Electrum Strategic Opportunities Fund L.P. The warrants, with an exercise price of $0.08, are set to expire on July 12, 2024, and August 29, 2024. The funds will support the ongoing development of the Nickel Shäw Project and cover general corporate expenses. CEO Stuart Harshaw emphasized Electrum's continued support as a vote of confidence for the Company's future plans.

Positive

• Proceeds of approximately $911,000 from warrant exercise will fund the Nickel Shäw Project.
• Electrum's support signals confidence in Nickel Creek's future business strategies.

Negative

• None.

News Market Reaction – NCPCF

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In the trading session that priced this news, NCPCF declined 9.02%, reflecting a notable negative market reaction.

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TORONTO, April 21, 2022 /PRNewswire/ - Nickel Creek Platinum Corp. (TSX: NCP) (OTCQB: NCPCF) ("Nickel Creek" or the "Company") is pleased to announce that it has received approximately $911,000 from the exercise of approximately 11.4 million warrants from the Company's largest shareholder, Electrum Strategic Opportunities Fund L.P. ("Electrum"). The warrants were issued in conjunction with a private placement completed during 2019. The exercise price of the warrants was $0.08 with expiry dates of July 12, 2024 and August 29, 2024.

Stuart Harshaw, President and Chief Executive Officer of Nickel Creek, commented: "Nickel Creek is fortunate to have the continued support of Electrum demonstrating the endorsement for the Company's plans going forward."

The proceeds from the exercise of warrants will be used for ongoing development of the 100%-owned Nickel Shäw Project, and for general corporate expenses and working capital purposes.

About Nickel Creek Platinum Corp.

Nickel Creek Platinum Corp. (TSX: NCP) (OTCQB: NCPCF) is a Canadian mining exploration and development company and its flagship asset is its 100%-owned Nickel Shäw Project. The Nickel Shäw Project is a large undeveloped nickel sulphide project in one of the most favourable jurisdictions in the world, with an attractive mix of metals including copper, cobalt and platinum group metals. The Nickel Shäw Project has exceptional access to infrastructure, located three hours west of Whitehorse via the paved Alaska Highway, which supports year-round access to deep-sea shipping ports in southern Alaska. The Company is also investigating additional opportunities for shareholder value creation.

The Company is led by a management team with a proven track record of successful discovery, development, financing and operation of large-scale projects. Our vision is to create value for our shareholders by becoming a leading North American nickel, copper, cobalt and PGM producer.

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SOURCE Nickel Creek Platinum Corp.

FAQ

What is the significance of the warrant exercise by Electrum on April 21, 2022 for NCPCF?

The exercise of approximately 11.4 million warrants generates about $911,000 for Nickel Creek, facilitating funding for the Nickel Shäw Project and general operations.

What are the terms of the warrants exercised by Electrum for Nickel Creek?

The warrants had an exercise price of $0.08 and are scheduled to expire on July 12, 2024, and August 29, 2024.

How will Nickel Creek use the funds from the warrant exercise?

The proceeds will be allocated for ongoing development of the Nickel Shäw Project and for general corporate expenses and working capital.