Platinum Group Metals Ltd. Announces Non-Brokered Private Placement
838 – 1100 Melville Street
Vancouver, BC V6E 4A6
P: 604-899-5450
F: 604-484-4710
News Release No. 19-387
January 22, 2019
Platinum Group Metals Ltd. Announces
Non-Brokered Private Placement
(Vancouver/Johannesburg) Platinum Group Metals Ltd. (PTM:TSX; PLG:NYSE American)
(“Platinum Group ” “PTM” or the “ Company”) reports the Company intends, subject to
regulatory approval, to offer and sell up to an aggregate 3.0 million common shares at price
of US $1.33 each for gross proceeds of up to US $4.0 million (the “Private Placement”). A
6% cash finder’s fee estimated at US $60,000 is to be paid on a portion of the Private
Placement. The majority of the Private Placement is planned to be subscribed for by an
existing major shareholder of the Company.
The Company intends to use the net proceeds of the Private Placement for its share of
remaining costs to complete a Definitive Feasibility Study (“DFS”) now underway for the
Waterberg palladium and platinum project (the “Waterberg Project”) and for general
corporate and working capital purposes. Closing of the Private Placement is subject to
customary closing conditions, including stock exchange approvals.
Securities purchased pursuant to the Private Placement may not be traded for a period of four
months plus one day from the closing of the Private Placement. The securities described
herein have not been, and will not be, registered under the United States Securities Act of
1933 (the “Act”), as amended, and may not be offered or sold within the United States or to,
or for the account or benefit of, U.S. persons absent registration or an applicable exemption
from the registration requirements of such Act.
About Platinum Group Metals Ltd.
Platinum Group is focused on, and is the operator of, the Waterberg Project, a bulk mineable
underground palladium deposit in northern South Africa. Waterberg was discovered by the
Company.
On behalf of the Board of
Platinum Group Metals Ltd.
Frank R. Hallam
CFO, Corporate Secretary and Director
For further information 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
www.platinumgroupmetals.net
PLATINUM GROUP METALS LTD. …2
Disclosure
The Toronto Stock Exchange and the NYSE American have not reviewed and do not accept
responsibility for the accuracy or adequacy of this news release, which has been p repared 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, plans, 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 size, participation in, receipt of regulatory
approvals for, and the completion and amount and use of proceeds of the Private Placement.
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
differ materially from those in forward-looking statements as a result of various factors, including
the Company’s inability to obtain subscriptions for and complete the Private Placement on th e
terms disclosed above, or at all, to obtain required regulatory approvals for the Private Placement,
and to maintain and extend the waivers of Liberty Metals & M ining Holdings, LLC (“LMM”) under
the Company’s credit facility (the “ LMM Facility ”) necessary to permit the use of proceeds
contemplated above; additional financing requirements; the LMM Facility with LMM is, and any
new indebtedness may be, secured and t he Company has pledged its shares of Platinum Group
Metals (RSA) Proprietary Limited (“PTM RSA”), and PTM RSA has pledged its shares of Waterberg
JV Resources (Pty) Limited (“ Waterberg JV Co. ”) to Liberty Metals & Mining Holdings, LLC, a
subsidiary of LMM, under the LMM Facility, which potentially could result in the loss of the
Company’s interest in PTM RSA and the Waterberg Project in the event of a default under the LMM
Facility or any new secured indebtedness; the Company’s history of losses and negative cash flow;
the Company’s ability to continue as a going concern; 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 failure of the Company or the other shareholders to fund their pro
rata share of funding obligations for the Waterberg Project; any disputes o r disagreements with
the other shareholders of Waterberg JV Co., Mnombo Wethu Consultants (Pty) Ltd. or Maseve;
completion of a DFS for the Waterberg Project is subject to economic analysis requirements; the
ability of the Company to retain its key managem ent employees and skilled and experienced
personnel; conflicts of interest; litigation or other administrative proceedings brought against the
Company; actual or alleged breaches of governance processes or instances of fraud, bribery or
corruption; the Company may become subject to the U.S. Investment Company Act; 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 local 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
PLATINUM GROUP METALS LTD. …3
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 or regain 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 SEC 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 as a result of new information, future events or results or otherwise.