The shares issued are subject to a hold periods expiring on March 16, 2012 and March 17, 2012. Proceeds of the placement will be applied to the Company's flagship PGM-Ni-Cu Wellgreen project in the Yukon and its other properties, in addition to general working capital.
http://www.prophecyplat.com/news_2011_nov17_prophecy_platinum_closes_10million_private_placement.php