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| Home : Platinum Group Metals Closes US $80 Million In Financing |
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Nov 21
2015 |
Platinum Group Metals Closes US $80 Million In Financing |
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VANCOUVER, BRITISH COLUMBIA and JOHANNESBURG, SOUTH AFRICA--(Marketwired - Nov. 20, 2015) - Platinum Group Metals Ltd. (TSX:PTM) (NYSE MKT:PLG) ("Platinum Group" or the "Company") announces that further to its press release dated November 2, 2015 the Company has received the necessary consents and approvals and has closed and drawn down a US $40 million loan facility (coupon at 9.5% over US Libor) with a production payment (1.5% with a 1.0% buy back option) with its largest shareholder Liberty Metals and Mining Holdings, LLC, a subsidiary of Boston based Liberty Mutual Insurance (the "LMM Facility"). The Company has issued 3,485,839 common shares in connection with its draw down of the LMM Facility at a deemed price of CDN $0.3045 per share. See the Company's November 2, 2015 press release for detailed terms. |
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| Source:http://www.marketwired.com/mw/release.do?id=2075954&sourceType=3 |
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