Platinum Group Metals Ltd. Completes At-The-Market Offering 2020-12-01 01:02 ET - News Release
Vancouver, British Columbia and Johannesburg, South Africa--(Newsfile Corp. - December 1, 2020) - Platinum Group Metals Ltd. (TSX: PTM) (NYSE American: PLG) ("Platinum Group" or the "Company") reports that it has completed an "at-the-market" offering of common shares first announced on September 4, 2020. The offering was completed on November 30, 2020 pursuant to an Equity Distribution Agreement (the "Sales Agreement") with BMO Capital Markets Corp. ("BMO"). Under the Sales Agreement, Platinum Group sold 5,440,186 common shares in the capital of the Company at an average price of US $2.21 for gross proceeds of US $12.0 million. No offers or sales of common shares were made in Canada, to anyone known by BMO to be a resident of Canada or on or through the facilities of the Toronto Stock Exchange (the "TSX") or other trading markets in Canada.
The Company intends to use the net proceeds of the offering for its share of pre-development costs on the Waterberg Project, general corporate purposes, partial repayment of debt and other amounts due.