DENVER, CO, Aug. 8, 2017 /CNW/ - Resource Capital Fund VI L.P. ("RCF") reports that on August 4, 2017, it acquired 8,675,535 units (the "Units") of Wellgreen Platinum Ltd. (the "Company") pursuant to a non-brokered private placement (the "Private Placement"). RCF acquired the Units at a price of $0.26 per Unit for a total purchase price of $2,255,639. Each Unit consists of one common share of the Company (the "Common Shares") and one-half of one warrant to acquire a Common Share (the "Warrants"). Each Warrant is exercisable for a period of five years following closing of the Private Placement at a price of $0.35.
Prior to the Private Placement, RCF owned and controlled a total of (i) 17,562,190 Common Shares representing approximately 8.66% of the issued and outstanding Common Shares and (ii) 16,973,384 Warrants. Assuming exercise of all of the Warrants held by RCF, an aggregate of 34,535,574 Common Shares would be owned by RCF prior to the Private Placement, representing approximately 15.72% of the Company's issued and outstanding Common Shares.
Immediately following the Private Placement, RCF owned a total of (i) 26,237,725 Common Shares representing approximately 11.7% of the Company's issued and outstanding common shares and (ii) 21,311,151 Warrants. Assuming exercise of all of the Warrants held by RCF, an aggregate of 47,548,876 Common Shares would be owned by RCF, representing approximately 19.37% of the Company's issued and outstanding Common Shares.
RCF acquired the Units for investment purposes. RCF may from time to time acquire additional securities, dispose of some or all of the existing or additional securities or may continue to hold the securities of the Company.
The Company's head office is located at Suite 2200, HSBC Building, 885 West Georgia Street, Vancouver, British Columbia, V6C 3E8.
To obtain a copy of the early warning report filed under applicable Canadian securities laws in connection with the transactions hereunder, please see the Company's profile on the SEDAR website www.sedar.com.
About Resource Capital Fund VI L.P.
RCF is a private investment fund existing under the laws of the Cayman Islands.
SOURCE Resource Capital Fund VI L.P.
For further information: and to obtain a copy of the early warning report, please contact: Resource Capital Fund VI L.P., 1400 Sixteenth Street, Suite 200, Denver, CO, 80202, Telephone: (720) 946-1444, Attn: Martine C. Ventello