Platinum Group Metals (NYSE American: PLG) (TSX: PTM) announced plans to raise approximately $1.01 million through a private placement of 800,000 common shares at $1.26 per share to major shareholder Hosken Consolidated Investments Limited (“HCI”), pending regulatory approval. The proceeds will support the company’s share of pre-construction activities at the Waterberg Project in South Africa and general corporate needs. The placement price reflects a 3.1% premium to the five-day VWAP on NYSE American as of May 9. Upon completion, HCI will return to a 26% ownership stake. The shares will be subject to a four-month-plus-one-day resale restriction and were offered under exemptions to registration and shareholder approval requirements due to HCI’s related-party status.
To view the full press release, visit https://ibn.fm/eYaW6
About Platinum Group Metals Ltd.
Platinum Group Metals is the operator of the Waterberg Project, a bulk underground palladium and platinum deposit located in South Africa. The Waterberg Project was discovered by Platinum Group and is being jointly developed with Implats, Mnombo and HJM. For more information about the company, visit www.PlatinumGroupMetals.net.
NOTE TO INVESTORS: The latest news and updates relating to PLG are available in the company’s newsroom at https://ibn.fm/PLG
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