URSA Major Minerals Incorporated (TSX:UMJ) and Prophecy Platinum Corp (TSXV:NKL) announced they have agreed to amend the proposed business combination agreement to close on July 16, 2012.
As quoted in the press release:
On closing, Prophecy Platinum will issue one common share for each 25 common shares of URSA Major held.
URSA is a Canadian mining company with a nickel mine and two nickel sulphide projects containing significant NI 43-101 compliant nickel and copper reserves and resources. URSA is focused on expanding operations at the Shakespeare Nickel Mine and growing its nickel, copper and platinum group metal (PGM) deposits through exploration and development, primarily in Ontario, Canada.