McGregor Capital to pocket C$3 million via private placement of stock

Offering to finance amalgamation with Canadian Platinum, exploration

By Devika Patel

Knoxville, Tenn., Feb. 22 - McGregor Capital Corp. said it will conduct a private placement of stock. The deal will raise C$3 million through both flow-through and regular common shares, with pricing to be determined based on market conditions.

The company also said it plans to amalgamate with Canadian Platinum Corp., a platinum explorer.

Proceeds will be used for exploration and development of the Peter Lake Project, to pay for the costs of the amalgamation transactions and for general working capital.

The capital pool company is based in Calgary, Alta.

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