Platinum Group Metals Announces Public Offering of Units
News Release No. 18-369
May 3, 2018
PLATINUM GROUP METALS ANNOUNCES
PUBLIC OFFERING OF UNITS
Vancouver, B.C. ( May 3, 2018) – Platinum Group Metals Ltd. (PTM-TSX, PLG -NYSE
American) (the “Company” or “Platinum Group Metals”) announces that it has
commenced a proposed underwritten public offering of units (the “Offering”). Each u nit
(a “Unit”) will entitle the holder to acquire, for no additional consideration, one common
share (“Common Share”) of Platinum Group Metals and one -half of one common share
purchase warrant (each whole common share purchase warrant a “Warrant”) of
Platinum Group Metals.
Each whole Warrant will entitle the holder thereof to purchase one Common Share at a
price and for a term to be determined in the context of marketing for the Offering.
In addition, the Company intends to grant the underwriters an option to purchase
additional Units, Common Shares or Warrants, or any combination thereof, equal to up
to 15% of the aggregate number of such securities to be sold in the Offering on the
same terms and conditions.
BMO Capital Markets is acting as sole book-running manager for the proposed Offering.
Roth Capital Partners is acting as co -manager for the proposed Offering in connection
with offers and sales outside of Canada . The proposed Offering will be subject to
customary conditions, including the approval of the Toronto Stock Exchan ge and the
NYSE American Stock Exchange , and there can be no assurance as to whether or
when the proposed Offering may be completed, or as to the actual size or terms of the
Offering.
The Company intends to use the net proceeds of the Offering: (i) for de bt repayment
towards a loan facility and production payment termination fees due to Liberty Metals &
Mining Holdings, LLC; and (ii) for general corporate and working capital purposes.
The Offering is being conducted pursuant to the Company's effective s helf registration
statement on Form F -10 filed with the U.S. Securities and Exchange Commission (the
"SEC") and a corresponding Canadian base shelf prospectus filed with the securities
regulatory authority in each of the provinces of Canada, except Quebec. The proposed
offering will be made only by means of a preliminary prospectus supplement, a final
prospectus supplement and the accompanying short form base shelf prospectus.
788 – 550 Burrard Street
Vancouver, BC V6C 2B5
P: 604-899-5450
F: 604-484-4710
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A copy of the prospectus supplement and base shelf prospectus relating to the Offering
in Canada may be obtained by contacting BMO Capital Markets, Brampton Distribution
Centre C/O The Data Group of Companies, 9195 Torbram Road, Brampton, Ontario,
L6S 6H2 or by telephone at (905) 791 -3151 Ext 4312 or by email at
[email protected]. A copy of the prospectus supplement and base
shelf prospectus relating to the Offering in the United States may be obtained by
contacting BMO Capital Markets Corp., Attn: Equity Syndicate Department, 3 Times
Square, 25th Floor, New York, NY 100 36 (Attn: Equity Syndicate), or by telephone at
(800) 414-3627 or by email at [email protected].
This news release shall not constitute an offer to sell or the solicitation of an offer to
buy, nor shall there be any sale of the Units, Common Shares or Warrants in any
jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration
or qualification under the securities laws of that jurisdiction.
About Platinum Group Metals Ltd.
Platinum Group is focused on, and is the operator of, the Waterberg Project, a bulk
mineable underground deposit in northern South Africa. Waterberg was discovered by
the Company.
For further information, please contact:
R. Michael Jones, President
or Kris Begic, VP, Corporate Development
Platinum Group Metals Ltd., Vancouver
Tel: (604) 899-5450 / Toll Free: (866) 899-5450
The Toronto Stock Exchange and the NYSE American LLC 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 for ward-looking statements within the meaning of U.S. securities
laws (collectively "forward -looking statements"). Forward -looking statements are
typically identified by words such as: will, proposed, shall, 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,
without limitation, statements regarding the Offering, including the terms, timing,
potential completion and the use of proceeds of the Offering. Although the Company
believes the 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 diff er materially from those in forward -looking statements as a result of various
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factors, including, but not limited to, that the Company may be unsuccessful in satisfying
the conditions to closing of the Offering including, but not limited to, obtaining Toro nto
Stock Exchange and NYSE American approvals ; that the Offering may not be
completed on the terms and timeline indicated, or at all; that the Company’s use of
proceeds of the Offering may differ from those indicated; additional financing
requirements; ri sks of delay in or failure to complete, or difficulty realizing on the
proceeds of, the share transaction component of the sale of the Maseve Mine; the
Company’s ability to comply with the terms of its indebtedness; cash flow and going
concern risks; risks related to the Waterberg definitive feasibility study; risks of delays in
the development of the Waterberg Project; variations in market conditions; the nature,
quality and quantity of any mineral deposits that may be located; metal prices; other
prices and costs; currency exchange rates; any disagreements with other shareholders
of the Company’s subsidiaries; the Company's ability to obtain any necessary permits,
consents or authorizations required for its activities and to comply with applicable
regulations; the Company's ability to produce minerals from its properties successfully
or profitably, to continue its projected growth, or to be fully able to implement its
business strategies; the Company’s ability to regain compliance with NYSE American
continued listing standards; and other risk factors described in the Company's Form 20-
F annual report, annual information form and other filings with the SEC and Canadian
securities regulators, including the registration statement, base shelf prospectus and
prospectus supplement relating to the Offering, which may be viewed at www.sec.gov
and www.sedar.com, respectively. Any forward-looking statement speaks only as of the
date on which it is made and, except as required by applicable securities laws, the
Company disclaims any intent or obligation to update any forward -looking statements,
whether as a result of new information, future events or results or otherwise.