PTM completes share sale to major shareholder
Mining News Pro - Platinum Group Metals (PTM) has closed the private placement to existing major beneficial shareholder Hosken Consolidated Investments (HCI) through its subsidiary Deepkloof.

Closing of the private placement raised gross proceeds of $2.5-million for PTM and allowed HCI to maintain a shareholding of over 31% in the company.

PTM intends to use the net proceeds of the placement for its share of predevelopment costs on the Waterberg project, in South Africa, partial debt repayment and general corporate and working capital purposes.

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