Platinum Group Metals Ltd T.PTM

Alternate Symbol(s): PLG

Metals & Mining Industrial Metals & Minerals

Platinum Group Metals Ltd. is a Canada-based platinum and palladium focused exploration and development company. The Company is the operator of the Waterberg Project, a bulk underground palladium and platinum deposit located in South Africa. The Waterberg Project is located on the Northern Limb of the Bushveld Igneous Complex, approximately 85 kilometers (km) north of the town of Mokopane. The Waterberg Project covers an area of approximately 29,161 hectares (ha) consisting of the Waterberg Mining Right, one active prospecting right, and one application for the incorporation of two adjacent farms into the Waterberg Mining Right. Of the total project area, 20,482 ha are covered by the Waterberg Mining Right. Waterberg is a joint venture between the Company, Impala Platinum Holdings Ltd., HJ Platinum, which consists of JOGMEC (Japan Oil, Gas and Metals National Corporation) and Hanwa Co. and Black Economic Empowerment (BEE) partner Mnombo Wethu Consultants (Pty) Ltd.

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Platinum Group Metals Ltd

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Comment by oneenoon Oct 16, 2017 7:14pm

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Post# 26819358

RE:RE:Time to Watch PLATINUM GROUP METALS LTD. (T.PTM)

THE ARTICLE POSTED wrote:

In consideration for LMM’s consent to the Implats Transaction, the Company has agreed to, among other things, do the following:

Deliver an amendment to the second lien LMM facility agreement prior to the closing of the Implats Transaction which will, among other things,: (a) amend the term of the LMM Facility to mature the later of September 30, 2018 and four months after the closing of the first stage of the Maseve Sale Transaction (closing expected before December 31, 2017); (b) require that 60% of net proceeds raised by the Company in an equity financing of over US $500,000 be used for repayment of outstanding loan facilities; and (c) add additional events of default for failing to be listed on the TSX, material breaches under material agreements and a decrease in its equity ownership in Waterberg Resources beyond the decrease to occur as a result of the Implats Transaction.

Raise US $20.0 million in debt and or equity within 30 days of the first lien facility due to Sprott being repaid (expected to be repaid before December 31, 2017) and raise a further US $10.0 million in debt and or equity by June 30, 2018. Proceeds in each instance are to repay and discharge amounts due firstly to Sprott and secondly to LMM.

Deliver an amendment to the production payment agreement between LMM and the Company by October 17, 2017 pursuant to which a termination fee for the Maseve Mine production payment obligation due to LMM can be settled by payment of US $15.0 million by March 31, 2018 or US $25.0 million thereafter.

In consideration for Sprott providing the Bridge Loan and Sprott’s consent to the Implats Transaction and the Maseve Sale Transaction, the Company has delivered an amendment to the first lien Sprott facility agreement which: (a) amends the term of the loan to mature on earlier of (i) January 31, 2018 and (ii) ten days after the closing of the Maseve Sale Transaction; (b) requires that 60% of net proceeds raised by the Company in an equity financing of over US $500,000 be used for repayment of outstanding loan facilities; and (c) adds events of default for failing to be listed on the TSX, material breaches under material agreements and a decrease in equity ownership in Waterberg Resources beyond the decrease to occur as a result of the Implats Transaction.