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VANCOUVER, BRITISH COLUMBIA--(Marketwired - April 18, 2017) - Platinum Group Metals Ltd., (TSX:PTM)(NYSE MKT:PLG) (the "Company" or "Platinum Group Metals") has announced today that it has entered into an agreement with BMO Capital Markets ("BMO") under which BMO has agreed to buy on a bought deal basis 15,390,000 common shares of the Company (the "Common Shares"), at a price of US$1.30 per Common Share for gross proceeds of approximately US$20 million (the "Offering"). The Company has granted BMO an option, exercisable at the offering price for a period of 30 days following the closing of the Offering, to purchase up to an additional 15% of the Offering to cover over-allotments, if any, and for market stabilization purposes. The Offering is expected to close on or about April 26, 2017 and is subject to customary closing conditions including, but not limited to, Toronto Stock Exchange and NYSE MKT approvals. |
