Wellgreen Platinum Completes $2.65 Million Flow-Through Equity Financing

VANCOUVER, BRITISH COLUMBIA--(Marketwired - Dec 24, 2014) - Wellgreen Platinum Ltd. (TSX:WG)(OTCQX:WGPLF) is pleased to announce that it has completed a $2,648,899.50 non-brokered "flow-through" equity financing (the "Private Placement") at approximately a 13% premium to the 5-day volume weighted average trading price of the Company's common shares on the Toronto Stock Exchange (the "TSX").

Pursuant to the Private Placement, the Company issued a total of 3,531,866 common shares of the Company on a "flow-through" basis, at $0.75 per share. The shares issued under the Private Placement are subject to a 4 month hold period expiring on April 25, 2015, in accordance with applicable securities laws and the rules and policies of the TSX. The Company paid finder's fees of approximately $80,000 in connection with the Private Placement.

The net proceeds of the Private Placement will be applied towards continuing exploration and development activities on the Company's 100%-owned Wellgreen PGM-Nickel-Copper property located in the Yukon Territory, Canada.

The Company also announces that it has amended the maturity date for loans aggregating $0.9 million that the Company advanced to its senior management team in order to assist them in participating in the $5.9 million equity financing of the Company that closed on June 20, 2013 (the "2013 Placement"). One-half of each loan amount will now mature on March 31, 2015, with the remaining balance of each loan to mature on June 30, 2015. The previous maturity date of the loans was December 31, 2014. All other terms of the loans remain unchanged, including that the Company holds as collateral for the loans, all shares and warrants subscribed for by the loan recipients under the 2013 Placement. The amended loan agreements will be available under the Company's SEDAR profile at www.sedar.com.

About Wellgreen Platinum

Wellgreen Platinum Ltd. is a Canadian mining exploration & development company focused on the active advancement of its 100% owned Wellgreen PGM-Nickel-Copper project toward production. Located in Canada's Yukon Territory, Wellgreen is one of the largest undeveloped PGM deposits outside southern Africa or Russia. The property is accessed by paved highway leading to year-round deep sea ports in Haines and Skagway, Alaska.

Wellgreen Platinum Ltd. has an experienced management team with a track record of value creation through successful large scale project discovery, development and operations.

Further information about the Company and our projects can be found at www.wellgreenplatinum.com.

Forward Looking Information: This news release includes certain information that may be deemed "forward-looking information". Forward-looking information can generally be identified by the use of forward-looking terminology such as "may", "will", "expect", "intend", "estimate", "anticipate", "believe", "continue", "plans" or similar terminology. All information in this release, other than information of historical facts, including, without limitation, regarding future exploration and development of the Wellgreen project or any of the Company's other projects, the potential of the Wellgreen project, engineering and mine planning, and general future plans and objectives for the Wellgreen project, are forward-looking information that involve various risks and uncertainties. Although the Company believes that the expectations expressed in such forward-looking information are based on reasonable assumptions, such expectations are not guarantees of future performance and actual results or developments may differ materially from those in the forward-looking information. Forward-looking information is based on a number of material factors and assumptions. Factors that could cause actual results to differ materially from the forward-looking information include changes in project parameters as plans continue to be refined, future metal prices, availability of capital and financing on acceptable terms, general economic, market or business conditions, uninsured risks, regulatory changes, defects in title, availability of personnel, materials and equipment on a timely basis, accidents or equipment breakdowns, delays in receiving government approvals, the Company's ability to maintain the support of stakeholders necessary to develop the Wellgreen project, unanticipated environmental impacts on operations and costs to remedy same, and other risks detailed herein and from time to time in the filings made by the Company with securities regulatory authorities in Canada. Mineral exploration and development of mines is an inherently risky business. Accordingly, actual events may differ materially from those projected in the forward-looking information. For more information on the Company and the risks and challenges of our business, investors should review our annual filings which are available at www.sedar.com. Readers are cautioned not to place undue reliance on forward-looking information. The Company does not undertake to update any forward looking information, except in accordance with applicable securities laws.

This news release does not constitute an offer to sell or a solicitation to buy any of the Company's securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended ("the U.S. Securities Act") or any state securities law and may not be offered or sold in the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.