(2) Sudbury, Ontario--(Newsfile Corp. - December 15, 2020) - Transition Metals Corp. (TSXV: XTM) ("Transition", "XTM", or the "Company") is pleased to announce that SPC Nickel Corp (" SPC"), formerly Sudbury Platinum Corporation (see SPC press release December 15, 2020), a company that Transition created through the spinout of its Aer-Kidd asset in the Sudbury Basin, has closed an over-subscribed non-brokered private placement which resulted in gross proceeds of $7,823,158 ( the "Offering). SPC has filed a preliminary prospectus with the securities regulatory authorities in Ontario, Alberta and British Columbia in connection with an application to list its common shares (the "Common Shares") on the TSX Venture Exchange. The Offering was led by strategic investment partner Dundee Goodman Merchant Partners (DGMP) and the filing of preliminary prospectus by SPC represents a significant milestone in Transition's execution of the Project Generator business model. Transition owns 15,000,000 shares of SPC, representing approximately 15% of the outstanding shares. Based on the completion of the SPC financing, this equates to $3,000,000 of value with considerable upside going forward.