Wellgreen Platinum to secure $11.4 mln in funding led by RCF
Canadian mining company Wellgreen Platinum Ltd (TSX: WG) has agreed to a financing package that will provide it with gross proceeds of about $11.4 million. The investors are U.S. mining-focused private equity firm Resource Capital Funds (RCF) and Alverstoke Group. The deal comprises equity and the sale by the company of a one percent net smelter returns royalty on future production from its Wellgreen property. Based in Vancouver, Wellgreen owns 100 percent of a platinum group metals and nickel project located in the Yukon. With the agreement, it has initiated the second phase of its 2015 exploration drilling program.
5 November 2015•6 mins read
