Platinum Group Metals Secures $1 Million Private Placement from Major Shareholder HCI

Platinum Group Metals Ltd. announced plans to raise approximately $1.01 million through a strategic private placement with its major shareholder, Hosken Consolidated Investments Limited (HCI). The transaction involves selling 800,000 common shares at $1.26 per share, reflecting a 3.1% premium to the five-day volume-weighted average price on NYSE American.

The capital raise is significant for the company's ongoing development of the Waterberg Project, a substantial underground palladium and platinum deposit located in South Africa. Proceeds from the placement will support pre-construction activities at the project and address general corporate needs, highlighting the company's continued investment in its key mining initiative.

Upon completion of the private placement, HCI will maintain a substantial 26% ownership stake in Platinum Group Metals. The shares will be subject to a four-month-plus-one-day resale restriction, and the transaction will be conducted under exemptions to registration and shareholder approval requirements due to HCI's related-party status.

The Waterberg Project represents a critical strategic asset, being jointly developed by Platinum Group Metals alongside Implats, Mnombo, and HJM. This collaborative approach underscores the project's potential and the confidence of multiple stakeholders in its long-term value proposition.

By securing additional funding through a major shareholder, Platinum Group Metals demonstrates its ability to maintain financial flexibility and continue advancing its key mining project. The premium pricing of the share placement also indicates market confidence in the company's strategic direction and potential for growth in the platinum group metals sector.