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PTM closes $17.62m public offering

15th May 2018

By: Simone Liedtke

Creamer Media Social Media Editor & Senior Writer

     

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JOHANNESBURG (miningweekly.com) – TSX-listed Platinum Group Metals (PTM) has closed the issuing of 117.45-million units at a price of $0.15 a unit for gross proceeds of about $17.62-million.

Each unit comprises one common share and one common share purchase warrant of PTM.

Each warrant will entitle the holder thereof to buy one common share at a price of $0.17 for a term of 18 months from the date of closing of the offering. 

The net proceeds of the offering, before expenses, of about $16.56-million, will be used towards the repayment of a loan facility and production payment termination fees owed to Liberty Metals & Mining Holdings and for general corporate and working capital purposes. 

Edited by Chanel de Bruyn
Creamer Media Senior Deputy Editor Online

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