Platinum Group Metals Announces Closing of Public Offering of Common Shares
31 Dicembre 2013 - 3:08PM
Marketwired
Platinum Group Metals Announces Closing of Public Offering of
Common Shares
VANCOUVER, BRITISH COLUMBIA--(Marketwired - Dec 31, 2013) -
Platinum Group Metals Ltd. (TSX:PTM)(NYSEMKT:PLG) (the "Company" or
"Platinum Group Metals") announces that further to its press
release of December 9, 2013, it has closed its public offering of
common shares (the "Offering"). Pursuant to the Offering, the
Company issued 148,500,000 common shares (the "Shares") at a price
of C$1.18 per Share, for aggregate gross proceeds of C$175,230,000.
BMO Capital Markets and GMP Securities L.P. led a team of
underwriters which included CIBC World Markets Inc., RBC Dominion
Securities Inc., Barclays Capital Canada Inc., PI Financial Corp.,
Raymond James Ltd. and Dundee Securities Ltd. (collectively, the
"Underwriters") which agreed to buy the Shares on a bought deal
basis.
The Company intends to use the net proceeds of the Offering to
partially fund Phase 2 development at the WBJV Project 1 platinum
mine, to fund the Company's portion of ongoing exploration and
engineering work on the Waterberg Joint Venture project, to fund
the Company's portion of ongoing exploration work on the Waterberg
Extension project and for general working capital purposes.
The Shares were offered by way of a short form prospectus filed
in all provinces of Canada, except for Quebec, and in the United
States by way of a registration statement filed with the United
States Securities and Exchange Commission.
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
these Shares in any jurisdiction in which such offer, solicitation
or sale would be unlawful prior to registration or qualification
under the securities laws of any such jurisdiction.
A written prospectus relating to the offering may be obtained
upon request in Canada by contacting BMO Capital Markets,
Mississauga Distribution Centre C/O The Data Group of Companies, 80
Ambassador Drive, Mississauga, Ontario, L5T 2Y9 by telephone at
905-696-8884
x4166 or by email at
EgNegro@datagroup.ca, and in the United States by contacting BMO
Capital Markets Corp., Attn: Equity Syndicate Department, 3 Times
Square, New York, NY 10036, or by telephone at (800) 414-3627 or by
email at bmoprospectus@bmo.com.
About Platinum Group Metals Ltd.
Platinum Group Metals is based in Johannesburg, South Africa and
Vancouver, Canada. The Company's business is currently focused on
the construction of the WBJV Project 1 platinum mine and the
exploration and initial engineering on the newly discovered
Waterberg platinum deposit, where the Company is the operator of
the Waterberg Joint Venture project with JOGMEC and Mnombo. The
Company has also expanded its exploration northward to the
Waterberg Extension project.
Platinum Group Metals is listed as PTM on the Toronto Stock
Exchange and PLG on the NYSEMKT.
On behalf of the Board of Platinum Group Metals Ltd.
R. Michael Jones
The Toronto Stock Exchange and the NYSEMKT 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 statements
within the meaning of U.S. securities laws and forward-looking
information within the meaning of Canadian securities laws
("forward-looking statements"). Forward-looking statements are
typically identified by words such as: targeted, believe, expect,
anticipate, intend, estimate, 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
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 differ materially from those in forward looking
statements as a result of various factors, including, but not
limited to, variations in market conditions, the nature, quality
and quantity of any mineral deposits that may be located, the
Company's ability to obtain any necessary permits, consents or
authorizations required for its activities, the Company's ability
to access further funding and produce minerals from its properties
successfully or profitably, or the Company's ability to be fully
able to implement its business strategies and other risk factors
described in the Company's prospectus, registration statement, Form
40-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.
Platinum Group Metals Ltd.R. Michael JonesPresident(604)
899-5450 / Toll Free: (866) 899-5450Platinum Group Metals Ltd.Kris
BegicVP, Corporate Development(604) 899-5450 / Toll Free: (866)
899-5450
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