ELECTRUM STRATEGIC OPPORTUNITIES FUND L.P. ACQUIRES SHARES OF NICKEL CREEK PLATINUM CORP.

This press release is issued pursuant to Multilateral Instrument 62-104 – Take-Over Bids and Issuer Bids and National Instrument 62-103 – The Early Warning System and Related Take-Over Bid and Insider Reporting Issues.

NEW YORK, Sept. 27, 2024 /CNW/ - Pursuant to a private placement of Nickel Creek Platinum Corp. (the "issuer") which closed on September 26, 2024, Electrum Strategic Opportunities Fund L.P. ("Electrum") subscribed for and purchased 505,000 common shares in the capital of the issuer (the "Common Shares") at an aggregate subscription price of CAD$454,500 or CAD$0.90 per Common Share (the "Transaction"). 

As a result of the Transaction, Electrum owns an aggregate of 2,512,826 Common Shares and 607,505 common share purchase warrants (the "Warrants"), representing approximately 44.83% of the issued and outstanding Common Shares or approximately 50.22% upon exercise of the Warrants (assuming the exercise of all of the Warrants beneficially owned by Electrum, and that no other securities, including those convertible into, exercisable for, the issuer's securities, are issued, converted or exercised prior to the exercise of the Warrants).  

As at the date of the filing of Electrum's last Form 62-103F1 relating to its securityholdings of the issuer (the "Last Filing"), being March 8, 2024, and following the 100:1 share consolidation completed by the issuer on or about August 19, 2024, the Offeror owned 2,007,826 Common Shares and 607,505 Warrants, representing approximately 39.37% of the issued and outstanding Common Shares or approximately 45.82% upon exercise of the Warrants (assuming the exercise of all of the Warrants beneficially owned by Electrum, and that no other securities, including those convertible into, exercisable for, the issuer's securities, are issued, converted or exercised prior to the exercise of the Warrants).  

The securities referred to above were acquired for investment purposes and Electrum and/or one or more of its affiliates may, depending on market and other conditions, increase or decrease its beneficial ownership of Common Shares or other securities of the issuer whether in the open market, by privately negotiated agreement or otherwise. 

Electrum and the issuer entered into a subscription agreement (the "Subscription Agreement") to acquire the Common Shares. The Subscription Agreement contains customary representations, warranties, covenants, closing conditions and indemnification provisions for a transaction of a similar size and nature.

Electrum is an "accredited investor" (as such term is defined in National Instrument 45-106 – Prospectus Exemptions adopted by the Canadian Securities Administrators ("NI 45-106")) because Electrum is a "person" (as such term is defined in NI 45-106) in respect of which all of the owners of interests, direct, indirect or beneficial, except the voting securities required by law to be owned by directors, are persons that are "accredited investors".

The issuer is located at 2896 South Sheridan Way, Suite 202, Oakville, ON L6J 7T4. Electrum is located at 600 Fifth Avenue, 24th Floor, New York, NY 10020, USA.  A copy of the early warning report to which this news release relates can be obtained from Michael Williams (646-365-1600) or on the SEDAR+ profile of the issuer at www.sedar.com. 

SOURCE Electrum Strategic Opportunities Fund L.P.