Platinum Group Closes Public Offering Of Common Share For C$175.2 Mln.

(RTTNews) - Platinum Group Metals Ltd. (PTM.TO)(PLG) said Tuesday that it has closed its public offering of common shares. Pursuant to the offering, the company issued 148.5 million common shares at a price of C$1.18 per Share, for aggregate gross proceeds of C$175.2 million.

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 its portion of ongoing exploration and engineering work on the Waterberg Joint Venture project, to fund its part of ongoing exploration work on the Waterberg Extension project and for general working capital purposes.