Platinum Group Metals Ltd. announced on May 12, 2025, its intention to conduct a non-brokered private placement of 800,000 common shares to existing major beneficial shareholder, Hosken Consolidated Investments Limited (HCI).
The shares are priced at US$1.26 each, which represents a 3.1% premium to the five-day volume weighted average trading price on the NYSE American as of May 9, 2025. This transaction is expected to generate gross proceeds of US$1,008,000 for the company.
The net proceeds from this private placement are earmarked for Platinum Group's share of pre-construction site work, engineering, and preparation costs on the Waterberg Project in South Africa, as well as for general corporate and working capital purposes. The placement will allow HCI to return to a 26% interest in the company.
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