Platinum Group Metals Ltd. has announced the successful closure of a US$1.008 million non-brokered private placement with its major shareholder, Hosken Consolidated Investments Limited (HCI). This move not only reaffirms HCI's confidence in the company's strategic direction but also restores its ownership stake to 26%. The transaction, completed on May 29, 2025, involved the issuance of 800,000 common shares at US$1.26 per share.
The proceeds from this investment are designated for the pre-construction and engineering phases of the Waterberg Project. Located in South Africa, the Waterberg Project is a pivotal bulk underground palladium and platinum deposit, developed in collaboration with Implats, Mnombo, and HJM. This project is poised to play a significant role in the platinum group metals sector, with far-reaching implications for South Africa's mining industry and the global supply of precious metals.
Notably, the transaction was executed swiftly, benefiting from exemptions under MI 61-101 due to HCI's status as a related party. This efficiency underscores Platinum Group Metals Ltd.'s adeptness at capital-raising and its dedication to nurturing strong partnerships with key stakeholders. For more details on the Waterberg Project, visit https://www.platinumgroupmetals.net.
By securing this additional funding, Platinum Group Metals Ltd. is not only advancing its developmental objectives but also reinforcing its standing in the highly competitive mining sector. The Waterberg Project, with its vast potential, represents a cornerstone in the company's portfolio and a beacon of progress for the mining industry at large.
