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Wellgreen Platinum closes first tranche of private placement

Canadian exploration and development company Wellgreen Platinum has closed the first C$2.8-million tranche of a private placement with Electrum Strategic Opportunities Fund.
The TSX-listed company issued 14-million units comprising one common share in the capital of the Wellgreen and one common share purchase warrant that would each entitle Electrum to buy one Wellgreen share at a price of $0.27 apiece, for a period of five years following the closing date of the first tranche.