Platinum Group Metals Ltd. announced on September 18, 2023, the closing of a non-brokered private placement. The company issued 2,118,645 common shares to Hosken Consolidated Investments Limited (HCI) through its subsidiary Deepkloof Limited.
The shares were sold at a price of $1.18 per common share, resulting in gross proceeds of approximately $2.5 million for Platinum Group Metals. This transaction allowed HCI to restore its beneficial ownership interest in the company to more than 26%.
The capital raised from this private placement is intended to support the company's ongoing pre-construction work and general corporate purposes for its Waterberg Project in South Africa.
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