Vancouver, British Columbia and Johannesburg, South Africa–(Newsfile Corp. – September 4, 2020) – Platinum Group Metals Ltd. (TSX: PTM) (NYSE American: PLG) (“Platinum Group” or the “Firm”) experiences that it has entered into an Fairness Distribution Settlement (the “Gross sales Settlement”) with BMO Capital Markets Corp. (“BMO”), efficient as of September 4, 2020. Below the Gross sales Settlement, Platinum Group might promote its frequent shares within the capital of the Firm every so often for as much as US$12.zero million in combination gross sales proceeds in “at-the-market” transactions. No provides or gross sales of frequent shares will probably be made in Canada, to anybody recognized by BMO to be a resident of Canada or on or by means of the services of the Toronto Inventory Change (the “TSX”) or different buying and selling markets in Canada.
For extra full details about the Firm and the providing, buyers are directed to learn the prospectus complement referring to and describing the phrases of the providing, and the associated registration assertion on Type F-Three and different paperwork that Platinum Group has filed with the Securities and Change Fee (the “SEC”). Chances are you’ll get these paperwork totally free by visiting EDGAR on the SEC web site at www.sec.gov. Alternatively, copies of the prospectus complement referring to the providing could also be obtained, when obtainable, from:
BMO Capital Markets Corp.
Three Occasions Sq.
New York, NY 10036
Facsimile: (212) 702-1205
Consideration: Fairness Capital Markets Desk
or by emailing [email protected].
The Firm has relied on the exemption for “Eligible Interlisted Issuers” below Part 602.1 of the TSX Firm Handbook in reference to the itemizing of the frequent shares on the TSX below the providing.
This press launch doesn’t represent a proposal to promote or a solicitation of a proposal to purchase the securities being supplied, nor might there be any sale of the securities being supplied in any state or different jurisdiction wherein such provide, solicitation or sale can be illegal previous to registration or qualification below the securities legal guidelines of any state or different jurisdiction.
The Firm intends to make use of the web proceeds of the providing for its share of pre-development prices on the Waterberg Venture, normal company functions, partial compensation of debt and different quantities due.
About Platinum Group Metals Ltd. and Waterberg Venture
Platinum Group Metals Ltd. is the operator and majority proprietor of the Waterberg Venture, a bulk underground palladium, platinum, gold and rhodium deposit positioned in South Africa. An Unbiased Definitive Feasibility Research for the Waterberg Venture was accredited by Waterberg JV Assets Pty Ltd. (“Waterberg JV Co.”), the undertaking three way partnership firm, on December 5, 2019.
The Waterberg Venture was found by Platinum Group and is being collectively superior with the shareholders of Waterberg JV Co., being Platinum Group, Impala Platinum Holdings Ltd., Japan Oil, Gasoline and Metals Nationwide Company, Hanwa Co. Ltd. and Mnombo Wethu Consultants (Pty) Ltd. (“Mnombo”). In 2019 the Firm based Lion Battery Applied sciences Inc. in partnership with Anglo American Platinum Restricted to help the usage of palladium and platinum in lithium battery purposes.
In 2019, the Firm based Lion Battery Applied sciences Inc. in partnership with Anglo American Platinum Restricted to help the usage of palladium and platinum in lithium battery purposes.
On behalf of the Board of
Platinum Group Metals Ltd.
R. Michael Jones
President and CEO
For additional data contact:
R. Michael Jones, President
or Kris Begic, VP, Company Growth
Platinum Group Metals Ltd., Vancouver
Tel: (604) 899-5450 / Toll Free: (866) 899-5450
The TSX and the NYSE American haven’t reviewed and don’t settle for duty for the accuracy or adequacy of this information launch, which has been ready by administration.
The current COVID-19 pandemic and associated measures taken by authorities create uncertainty and have had, and should proceed to have, an opposed influence on many facets of the Firm’s enterprise, together with worker well being, workforce productiveness and availability, journey restrictions, contractor availability, provide availability, the Firm’s capability to keep up its controls and procedures relating to monetary and disclosure issues and the supply of capital and insurance coverage and the prices thereof, a few of which, individually or when aggregated with different impacts, could also be materials to the Firm.
This press launch might comprise forward-looking data throughout the that means of Canadian securities legal guidelines and forward-looking statements throughout the that means of U.S. securities legal guidelines (collectively “forward-looking statements”), together with statements with respect to the sale of frequent shares below the Gross sales Settlement and the quantity and makes use of of proceeds thereof. Ahead-looking statements are sometimes recognized by phrases akin to: imagine, count on, anticipate, intend, estimate, plans, postulate and comparable expressions, or are these, which, by their nature, consult with future occasions. All statements that aren’t statements of historic truth are forward-looking statements. Though the Firm believes any forward-looking statements on this press launch are cheap, it may give no assurance that the expectations and assumptions in such statements will show to be right.
The Firm cautions buyers that any forward-looking statements by the Firm will not be ensures of future outcomes or efficiency and that precise outcomes might differ materially from these in forward-looking statements on account of varied components, together with attainable opposed impacts due the worldwide outbreak of COVID-19 (as described above), the Firm’s lack of ability to generate enough money movement or increase enough further capital to make fee on its indebtedness, and to adjust to the phrases of such indebtedness; further financing necessities; the 2019 Sprott Facility is, and any new indebtedness could also be, secured and the Firm has pledged its shares of Platinum Group Metals (RSA) Proprietary Restricted (“PTM RSA”), and PTM RSA has pledged its shares of Waterberg JV Co. to Sprott, below the 2019 Sprott Facility, which doubtlessly may outcome within the lack of the Firm’s curiosity in PTM RSA and the Waterberg Venture within the occasion of a default below the 2019 Sprott Facility or any new secured indebtedness; the Firm’s historical past of losses and adverse money movement; the Firm’s capability to proceed as a going concern; the Firm’s properties might not be introduced right into a state of business manufacturing; uncertainty of estimated manufacturing, improvement plans and value estimates for the Waterberg Venture; discrepancies between precise and estimated mineral reserves and mineral assets, between precise and estimated improvement and working prices, between precise and estimated metallurgical recoveries and between estimated and precise manufacturing; fluctuations within the relative values of the U.S. Greenback, the Rand and the Canadian Greenback; volatility in metals costs; the uncertainty of different funding sources for Waterberg JV Co.; the Firm might change into topic to the U.S. Funding Firm Act; the failure of the Firm or the opposite shareholders to fund their professional rata share of funding obligations for the Waterberg Venture; any disputes or disagreements with the opposite shareholders of Waterberg JV Co. or Mnombo; the flexibility of the Firm to retain its key administration workers and expert and skilled personnel; conflicts of curiosity; litigation or different administrative proceedings introduced towards the Firm; precise or alleged breaches of governance processes or situations of fraud, bribery or corruption; exploration, improvement and mining dangers and the inherently harmful nature of the mining business, and the chance of insufficient insurance coverage or lack of ability to acquire insurance coverage to cowl these dangers and different dangers and uncertainties; property and mineral title dangers together with faulty title to mineral claims or property; adjustments in nationwide and native authorities laws, taxation, controls, laws and political or financial developments in Canada and South Africa; tools shortages and the flexibility of the Firm to amass crucial entry rights and infrastructure for its mineral properties; environmental laws and the flexibility to acquire and keep crucial permits, together with environmental authorizations and water use licences; excessive competitors within the mineral exploration business; delays in acquiring, or a failure to acquire, permits crucial for present or future operations or failures to adjust to the phrases of such permits; dangers of doing enterprise in South Africa, together with however not restricted to, labour, financial and political instability and potential adjustments to and failures to adjust to laws; the Firm’s frequent shares could also be delisted from the NYSE American or the TSX if it can’t keep compliance with the relevant itemizing necessities; and different threat components described within the Firm’s most up-to-date Type 20-F annual report, annual data type and different filings with the SEC and Canadian securities regulators, which can be seen at www.sec.gov and www.sedar.com, respectively. Proposed adjustments within the mineral legislation in South Africa if carried out as proposed would have a fabric opposed impact on the Firm’s enterprise and potential curiosity in initiatives. Any forward-looking assertion speaks solely as of the date on which it’s made and, besides as could also be required by relevant securities legal guidelines, the Firm disclaims any intent or obligation to replace any forward-looking assertion, whether or not on account of new data, future occasions or outcomes or in any other case.
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