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. 25-487
May 12, 2025
Platinum Group Metals Ltd. Announces
Non-Brokered Private Placement
(Vancouver/Johannesburg) Platinum Group Metals Ltd. (PTM:TSX; PLG:NYSE American)
(“Platinum Group ” or the “ Company”) reports that it intends, subject to regulatory
approval, to sell 800,000 common shares of the Company at price of US$1.26 each for gross
proceeds of US$1,008,000 million (the “ Private Placement”) to existing major beneficial
shareholder, Hosken Consolidated Investments Limited (“HCI”).
The Company intends to use the net proceeds of the Private Placement for its share of pre-
construction site work, engineering and preparation costs on the Waterberg Project in South
Africa, and for general corporate and working capital purposes. C losing of the Private
Placement is subject to customary closing conditions, including stock exchange approvals and
completion of the definitive agreement.
Pricing of the Private Placement represents a 3.1% premium to the five-day volume weighted
average trading price of the Company’s shares on the NYSE American stock exchange as of
May 9, 2025. The Private Placement will allow HCI to return to a 26% interest in the Company.
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.
HCI is a “related party” of the Company (as defined by Multilateral Instrument 61 -101 -
Protection of Minority Securityholders in Special Transactions ( “MI 61 -101”)) and the
Company intends to rely on the exemptions from both the formal valuation requirement and
the minority shareholder approval requirement under sections 5.5(a) and 5.7(1)(a),
respectively, of MI 61 -101, on the basis that neither the fair market val ue of the subject
matter of, nor the fair market value of the consideration for, the transact ion, insofar as it
involves HCI, exceeds 25 per cent of the Company ’s market capitalization calculated in
accordance with MI 61-101. The Company will not have filed a material change report more
than 21 days before the expected closing date of the above transaction as it has negotiated
the above transaction on an expedited basis.
838 – 1100 Melville Street
Vancouver, BC V6E 4A6
P: 604-899-5450
F: 604-484-4710
About Platinum Group Metals Ltd. and Waterberg Project
Platinum Group Metals Ltd. is the operator and majority owner of the Waterberg Project, a
bulk underground platinum, palladium, rhodium and gold deposit located in South Africa. The
Waterberg Project was discovered by Platinum Group and is being jointly developed with
Impala Platinum Holdings Ltd., Mnombo Wethu Consultants (Pty) Ltd., and HJ Platinum Metals
Company, a company established in 2023 by Japan Organization for Metals and Energy
Security and Hanwa Co. Ltd. as a special purpose company to hold and fund their aggregate
future equity interests in the Waterberg Project.
On behalf of the Board of
Platinum Group Metals Ltd.
Frank R. Hallam
President and CEO
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 news release may contain 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”, “would”, “will”,
“could”, “can”, “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 news release include, without limitation,
statements regarding the size, participation in, receipt of regulatory approvals and satisfaction of
other closing conditions for, and the completion and amount and use of proceeds of the Private
Placement, and the advancement of the Company’s objectives for the Waterberg Project. Although
the Company believes any forward-looking statements in this news 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 potential inability
to obtain required regulatory approvals and satisfy other applicable closing conditions including
PLATINUM GROUP METALS LTD. …3
possible adverse impacts; 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 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 shareholde rs of Waterberg JV Co. or
Mnombo; the ability of the Company to retain its key management 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; 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 an d 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 authorizati ons 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 mainta in
compliance with the applicable listing requirements; and other risk factors described in the
Company's most recent Form 40-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.sedarplus.ca, 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 inten t or obligation to update any forward -looking statement, whether
because of new information, future events or results or otherwise.