SPC Metals Closes Private Placement Totaling $1,910,714
SPC Metals Closes Private Placement Totaling $1,910,714
Sudbury, Ontario, June 25, 2018 – Sudbury Platinum Corporation (“ SPC Metals ” or “ the
Corporation”), a private corporation 30% owned by Tr ansition Metals Corp (XTM –TSX-V),
announces that it has closed a non-brokered priv ate placement financing of $1,910,714. The
financing consisted of 2,258,320 units (the “ Units”) of the Corporation at a price of $0.20 per
Unit, for gross proceeds of $451,664 and 7,100,000 Flow Through Shares at a price of $0.2055
per share for gross proceeds of $1,459,050. Each Unit consisted of one common share of the
Corporation (a “ Common Share ”) and one transferable share purchase warrant
(each, a “Warrant”). Each Warrant entitles the holde r to purchase one additional Common
Share for a period of 24 months from closing at a price of $0.30, subject to other terms and
conditions specified in the Warrant certificates. XTM’s equity in terest has subsequently been
reduced from 36% to 29.55%.
A finder’s fee was paid in conne ction with the placement to Ha ywood Securities Inc. that
consisted of a cash fee in the aggregate amount of $11,832, representing an aggregate
commission of 6% of the Units and Flow Through shares sold to investors introduced by finders,
and an aggregate of 58,500 sh are purchase warrants (“ Compensation Warrants ”).
The Compensation Warrants permit the purchase of one Common Share for a period of 24
months from closing at a price of $0.30, subjec t to other terms and conditions specified in the
Compensation Warrant certificates.
Proceeds from the private placement will be used for exploration and working capital purposes.
About SPC Metals
Sudbury Platinum Corporation, a private corp oration 30% owned by Transition Metals Corp
(XTM –TSX-V), is a Canadian private corporation focused on e xploring for Ni-Cu-Co-PGM in
the Sudbury region. The Company is exploring its key 100% owned Aer-Kidd Property, an
advanced exploration property lo cated on the prospective Wort hington Offset Dyke, a 100%
interest in the Lockerby East Property and a 70 % interest in the Graham West Property all of
which are in the heart of the Sudbury mining camp. It also owns a 100% interest in the Owen
Nickel Property. The Company vision is to beco me a mine developer in the Sudbury district.
Additional information regarding the co mpany and projects can be found at
www.sudburyplatinumcorp.com.
About Transition Metals Corp
Transition Metals Corp (XTM - TSX.V) is a Canadian-based, multi-commodity project generator
that specializes in converting new explor ation ideas into Cana dian discoveries.
The award-winning team of geoscientists has exte nsive exploration experi ence in established,
emerging and historic mining camps and actively develops and tests new ideas for discovering
mineralization in places that others have not looked, which often allows the Corporation to
acquire properties inexpensively. The team is rigorous in its fieldwork and combines traditional
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techniques with newer ones to help unearth comp elling prospects and drill targets. Transition
uses the project generator business model to ac quire and advance multiple exploration projects
simultaneously, thereby maximizing shareholder e xposure to discovery and capital gain. Joint
venture partners earn an intere st in the projects by funding a por tion of higher-risk drilling and
exploration, allowing Transition to conserve capital and minimize shareholder’s equity dilution.
The Corporation has an expanding portfolio that curre ntly includes more th an 25 gold, copper,
nickel and platinum projects primarily in On tario, Nunavut, British Columbia, Minnesota and
Saskatchewan. Additional information regardi ng the company and projects can be found at
www.transitionmetalscorp.com.
Scott McLean
Chief Executive Officer
SPC Metals
Tel: (705) 669-1777