Platinum Group Metals Limited (NYSEAMERICAN:PLG) Enters Into An Underwriting Accord with A Syndicate of Underwriters To Mobilize US$17.1 Million


Platinum Group Metals Limited (NYSEAMERICAN:PLG) has entered into an underwriting accord with a group of underwriters to mobilize funds worth US$17.1 Million. It is in accordance with the previously announced plan to sell 114,000,000 units to the underwriters. Each unit is priced at US$0.15.

The holder of each unit will have a right to acquire one common share of Platinum Group Metals along with one warrant of Platinum Group Metals. The unit holder will pay US$0.17 per share within 18 months of closing the agreement for each acquired warrant.

The unit holders will also have an option to acquire additional units, warrants or common of Platinum Group Metals within 30 days subject to a maximum of 15%. All the terms and conditions are same for this option.

BMO Capital Markets will act as a book running manager for the offering. The co managers for the offering include Roth Capital Partners and Leede Jones Gable Inc. The offering is expected to close on or before May 15, 2018.

The deal is subject to the approval of the NYSE American Stock Exchange and Toronto Stock Exchange.

The company will use the net proceedings to repay the loans. It will also use the funds to pay the dues to Liberty Metals & Mining Holdings, LLC. The company will use the balance proceeds for working capital and corporate financing.

Platinum Group Metals Limited and Hosken Consolidated Investments Limited (HCL) Agrees to Incorporate Changes in Strategic Investment

Hosken Consolidated Investments Limited (HCL) and Platinum Group Metals have agreed to incorporate changes in strategic investment. As per the terms of the amended accord, HCL will acquire 15.090,999 units. Each unit is priced at US$0.15. HCL will pay US$2,263,649.85 to Platinum Group Metals under the private placement. Each of the offered units consists of one common share purchase warrant and one common share.

HCL has the right to purchase one common share of Platinum Group Metals at a price of $0.17 for each common share warrant within eighteen months from the date of closing the deal.


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