Platinum Group Closes Offering of 225 Million Shares
Platinum Group Metals Ltd. (PTM.TO) has closed the public offering of common shares. Pursuant to the offering, the company issued 225 million common shares at a price of C$0.80 per common share, for aggregate gross proceeds of C$180 million.
The company intends to use the net proceeds from the offering to partially fund its 74% share of Phase 2 development costs at the WBJV Project 1 platinum mine, its 63% obligation towards ongoing exploration and engineering work on the Waterberg project and for general working capital purposes.
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