Platinum Group Metals Ltd. Closes Non-Brokered Private Placement
838 – 1100 Melville Street
Vancouver, BC V6E 4A6
P: 604-899-5450
F: 604-484-4710
News Release No. 19-395
June 28, 2019
Platinum Group Metals Ltd. Closes
Non-Brokered Private Placement
(Vancouver/Johannesburg) Platinum Group Metals Ltd. (PTM:TSX; PLG:NYSE American)
(“Platinum Group”, “PTM” or the “Company”) reports closing of the Company’s previously
announced non-brokered private placement with Hosken Consolidated Limited (“HCI”), an
existing major shareholder of the Company, for gross proceeds of US$1.3 million (the “Private
Placement”). In connection with the Private Placement, the Company issued an aggregate
of 1,111,111 common shares to Deepkloof Limited, a subsidiary of HCI, at a price of US$1.17
per common share.
On a non-diluted basis and after giving effect to the Private Placement, HCI’s ownership
percentage has increased from 20.05% to 22.60% of the Company’s issued and outstanding
common shares. The Company did not pay any finder’s fees in connection with the Private
Placement.
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.
Securities issued 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 under Multilateral Instrument 61-101 –
Protection of Minority Securityholders in Special Transactions (“MI 61-101 but the Company
is relying on exemptions from the formal valuation and minority approval requirements of MI
61-101 in connection with the Private Placement with HCI. The Company did not file a
material change report more than 21 days before the expected closing date of the Private
Placement as the Company wished to close the Private Placement on an expedited basis for
sound business reasons.
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.
PLATINUM GROUP METALS LTD. …2
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
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 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, 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 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 required final regulatory approvals for the Private Placement and
the 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. 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.