Big drop on expected financing | PLG Message Board Posts

Platinum Group Metals Ltd.

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Msg  8687 of 8689  at  12/31/2013 5:46:46 PM  by

archeptolemus

The following message was updated on 12/31/2013 5:47:46 PM.

Big drop on expected financing

 but, that's got the money...
 

Platinum Group Metals Announces Closing of Public Offering of Common Shares

December 31, 2013

Platinum Group Metals Ltd., (PTM-TSX, PLG-NYSE.MKT) (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.



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