Platinum Group Files Final Base Shelf Prospectus
838 – 1100 Melville Street
Vancouver, BC V6E 4A6
P: 604-899-5450
F: 604-484-4710
News Release No. 22-454
June 21, 2022
Platinum Group Files Final Base Shelf Prospectus
(Vancouver/Johannesburg) Platinum Group Metals Ltd. (PTM:TSX; PLG:NYSE American)
(“Platinum Group”, “PTM” or the “Company”) announces that it has filed a final short form
base shelf prospectus (the "Shelf Prospectus") with the securities regulatory authorities in
each of the provinces and territories of Canada and a corresponding registration statement
on Form F -10 (the " Registration Statement ") with the United States Securities and
Exchange Commission ("SEC") under the Multijurisdictional Disclosure System established
between Canada and the United States.
The Shelf Prospectus and the Registration Statement, when made effective, will enable the
Company to make offerings of up to US$250 million of common shares, debt securities,
warrants, subscription receipts or a combination thereof of the Company from time to time,
separately or together, in amounts, at prices and on terms to be determined based on market
conditions at the time of the offering and as set out in an accompanying prospectus
supplement, during the 25 -month period that the Shelf Prospectus and Registration
Statement remain effective.
Unless otherwise specified in the prospectus supplement relating to a particular offering of
securities, the net proceeds from any sale of any securities will be used to advance our
business objectives and for general corporate purposes. The Company filed the Shelf
Prospectus and the Regi stration Statement to replace the Form F -3 registration statement
previously filed by the Company with the SEC in 2019, which has expired (the “ 2019
Registration Statement ”), and to enhance the Company’s financial flexibility. The
Company’s 2021 at -the-market common share offering terminated upon the expiration of
the 2019 Registration Statement. The specific terms of any future offering will be established
in a prospectus supplement to the Shelf Prospectus, which supplement will be filed with the
applicable Canadian securities regulatory authorities and the SEC.
This news release shall not constitute an offer to sell or the solicitation of an offer to buy any
securities, nor shall there be any sale of these securities in any jurisdiction in which such
offer, solicitation or sale would be unlawful prior to the registration or qualification under the
securities laws of any such jurisdiction. A copy of the Shelf Prospectus can be found on SEDAR
at www.sedar.com, and copies of the Registration Statement can be found on EDGAR at
www.sec.gov. Copies of the Shelf Prospectus and the Registration Statement may also be
obtained by contacting the Corporate Secretary of the Company at Suite 838, 1100 Melville
Street, Vancouver, British Columbia, Canada, V6E 4A6.
About Platinum Group Metals Ltd. and the Waterberg Project
Platinum Group Metals Ltd. is the operator of the Waterberg Project, a bulk underground
palladium and platinum deposit located in South Africa. The Waterberg Project was
PLATINUM GROUP METALS LTD. …2
discovered in 2011 and is being jointly developed by the Company, Japan Oil, Gas and Metals
National Corporation, Impala Platinum Holdings Ltd., Mnombo Wethu Consultants (Pty) Ltd.
(“Mnombo”), and Hanwa Co. Ltd.
On behalf of the Board of
Platinum Group Metals Ltd.
Frank R. Hallam
President, CEO and Director
For further information contact:
Kris Begic, VP, Corporate Development
Platinum Group Metals Ltd., Vancouver
Tel: (604) 899-5450 / Toll Free: (866) 899-5450
www.platinumgroupmetals.net
Disclosure
The TSX and the NYSE American have not reviewed and do not accept responsibility for the
accuracy or adequacy of this news release, which has been prepared by management.
This press release contains forward -looking information within the meaning of Canadian
securities laws and forward -looking statements within the meaning of U.S. securities laws
(collectively "forward -looking statements"). Forward -looking statements are typically
identified by words such as: believe, expect, anticipate, intend, estimate, plan s, postulate
and similar expressions, or are those, which, by their nature, refer to future events. All
statements that are not statements of historical fact are forward -looking statements.
Forward-looking statements in this press release include but are n ot limited to statements
regarding any potential future offering(s) of securities pursuant to the Shelf Prospectus (and
the use of proceeds therefrom). Although the Company believes any forward -looking
statements in this press release are reasonable, it can give no assurance that the expectations
and assumptions in such statements will prove to be correct.
The Company cautions investors that any forward -looking statements by the Company are
not guarantees of future results or performance and that actual results may differ materially
from those in forward -looking statements as a result of various factors, including possible
adverse impacts due the global outbreak of COVID -19; rising global inflation and increased
potential supply chain disruptions;, international conflict and other geopolitical tensions and
events; the Company's inability to generate sufficient cash flow or raise sufficient additional
financing requirements; the Company's history of losses and negative cash flow; the
Company's properties may not be brought into a state of commercial production; uncertainty
of estimated production, development plans and cost estimates for the Waterberg Project;
discrepancies between actual and estimated mineral reserves and mineral resources, between
actual and estimated development and operating costs, between actual and estimated
metallurgical recoveries and between estimated and actual production; fluctuations in the
relative values of the U.S. Dollar, the Rand and the Canadian Dollar; volatility in metals prices;
the uncertainty of alternative funding sources for Waterberg JV Resources (Pty) Ltd.
("Waterberg JV Co."); the Company may become subject to the U.S. Investment Company
PLATINUM GROUP METALS LTD. …3
Act; the failure of the Company or the other shareholders to fund their pro rata share of
funding obligations for the Waterberg Project; any disputes or disagreements with the other
shareholders of Waterberg JV Co. or Mnombo; the possibility that Africa Wide may appeal the
ruling of the High Court received on June 14, 2022, or the poss ibility that they may prevail
despite the Company's belief that there are no grounds upon which Africa Wide could succeed;
the ability of the Company to retain its key management employees and skilled and
experienced personnel; conflicts of interest; litig ation or other administrative proceedings
brought against the Company; actual or alleged breaches of governance processes or
instances of fraud, bribery or corruption; exploration, development and mining risks and the
inherently dangerous nature of the mining industry, and the risk of inadequate insurance or
inability to obtain insurance to cover these risks and other risks and uncertainties; property
and mineral title risks including defective title to mineral claims or property; changes in
national and lo cal government legislation, taxation, controls, regulations and political or
economic developments in Canada and South Africa; equipment shortages and the ability of
the Company to acquire necessary access rights and infrastructure for its mineral properties;
environmental regulations and the ability to obtain and maintain necessary permits, including
environmental authorizations and water use licences; extreme competition in the mineral
exploration industry; delays in obtaining, or a failure to obtain, permits necessary for current
or future operations or failures to comply with the terms of such permits; risks of doing
business in South Africa, including but not limited to, labour, economic and political instability
and potential changes to and failures to comply with legislation; the Company's common
shares may be delisted from the NYSE American or the TSX if it cannot maintain compliance
with the applicable listing requirements; and other risk factors described in the Company's
most recent Form 20-F annual report, annual information form and other filings with the U.S
Securities and Exchange Commission and Canadian securities regulators, which may be
viewed at www.sec.gov and www.sedar.com, respectively. Proposed changes in the mineral
law in South Africa if implemented as proposed would have a material adverse effect on the
Company's business and potential interest in projects. Any forward-looking statement speaks
only as of the date on which it is made and, except as may be required by applicable securities
laws, the Company disclaims any intent or obligation to update any forward -looking
statement, whether because of new information, future events or results or otherwise.