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| Home : Platinum Group Metals Announces US$25 Million Bought Deal Financing |
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Jan 24
2017 |
Platinum Group Metals Announces US$25 Million Bought Deal Financing |
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VANCOUVER, BRITISH COLUMBIA--(Marketwired - Jan. 23, 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 a syndicate of underwriters led by BMO Capital Markets under which the underwriters have agreed to buy on a bought deal basis 17,125,000 common shares of the Company (the "Common Shares"), at a price of US$1.46 per Common Share for gross proceeds of approximately US$25 million (the "Offering"). The Company has granted the underwriters 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 January 31, 2017 and is subject to customary closing conditions including, but not limited to, Toronto Stock Exchange and NYSE MKT approvals. |
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| Source:http://www.marketwired.com/mw/release.do?id=2190357&sourceType=3 |
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