Platinum Group (PTM-T) Dec 31, '13 closes $175.23-million financing
Platinum Group Metals Ltd. has closed its public offering of common shares. Pursuant to the offering, the company issued 148.5 million common shares at a price of $1.18 per share, for aggregate gross proceeds of $175.23-million. BMO Capital Markets and GMP Securities LP led a team of underwriters which included CIBC World Markets Inc., RBC Dominion Securities Inc., Barclays Capital Canada Inc., PI Financial Corp., Raymond James Ltd. and Dundee Securities Ltd., which agreed to buy the shares on a bought deal basis. The company intends to use the net proceeds of the offering to partially finance phase 2 development at the WBJV project 1 platinum mine, to finance the company's portion of continuing exploration and engineering work on the Waterberg joint venture project, to finance the company's portion of continuing exploration work on the Waterberg Extension project, and for general working capital purposes.
The shares were offered by way of a short form prospectus filed in all provinces of Canada, except for Quebec, and in the United States by way of a registration statement filed with the United States Securities and Exchange Commission. |
