Platinum Group Metals Secures $1.01 Million Private Placement for Waterberg Project Development

Platinum Group Metals Ltd. announced plans to raise approximately $1.01 million through a private placement of 800,000 common shares with major shareholder Hosken Consolidated Investments Limited. The share placement, priced at $1.26 per share, represents a 3.1% premium to the five-day volume-weighted average price on NYSE American as of May 9. This premium pricing indicates strong investor confidence in the company's strategic direction and future prospects.

The proceeds from this private placement will be allocated to support the company's pre-construction activities at the Waterberg Project in South Africa and address general corporate needs. This funding comes at a critical juncture for the project's development timeline, providing necessary capital to advance preparatory work before full-scale construction begins. Upon completion of the transaction, HCI will maintain a 26% ownership stake in the company, reinforcing its long-term commitment to Platinum Group Metals' success.

The proposed share issuance is subject to regulatory approval and will be executed under exemptions to registration and shareholder approval requirements, given HCI's status as a related party. The shares will be subject to a four-month-plus-one-day resale restriction, ensuring compliance with securities regulations and providing market stability during the initial post-placement period. This structured approach demonstrates the company's commitment to regulatory compliance while efficiently securing necessary funding.

The Waterberg Project, a bulk underground palladium and platinum deposit, is being jointly developed by Platinum Group Metals, Implats, Mnombo, and HCI. This strategic investment highlights the ongoing collaborative efforts in advancing the project's development and potential mineral resource extraction. The project represents a significant opportunity in the platinum group metals sector, particularly given the growing demand for these metals in various industrial applications and clean energy technologies. The continued financial support from major stakeholders like HCI underscores the project's strategic importance and long-term value proposition within the global metals market.