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Platinum Group Metals Ltd. Reports Continued Listing Plan Accepted by the NYSE American
VANCOUVER, British Columbia and JOHANNESBURG, South Africa, June 22, 2018 (GLOBE NEWSWIRE) -- Platinum Group Metals Ltd. (TSX:PTM) (NYSE American:PLG) (“Platinu
About this update from Platinum Group Metals Ltd.
[{"type":"text","content":"VANCOUVER, British Columbia and JOHANNESBURG, South Africa, June 22, 2018 (GLOBE NEWSWIRE) -- Platinum Group Metals Ltd. (TSX:PTM) (NYSE American:PLG) (“Platinum Group”, “PTM” or the “Company”) reports that the NYSE American (the “Exchange”) has notified the Company that its plan to regain compliance with the continued listing requirements of the Exchange has been accepted. As previously disclosed, the Company is not in compliance with the continued listing standards set forth in Sections 1003(a)(i), 1003(a)(ii) and 1003(a)(iii) of the NYSE American Company Guide (the “Company Guide”) with respect to stockholders’ equity, or in Section 1003(f)(v) of the Company Guide with respect to the selling price of the Company’s common shares. On June 21, 2018, the Exchange notified the Company that it had accepted the Company’s plan of compliance and granted the Company an extension until November 23, 2018 to regain compliance with the requirements of Section 1003(f)(v) of the Company Guide and until October 10, 2019 to regain compliance with Sections 1003(a)(i), 1003(a)(ii) and 1003(a)(iii) of the Company Guide. The Company is not currently in compliance with NYSE American listing standards, but its listing is being continued pursuant to an exception. The Company will be subject to periodic review by Exchange staff during the extension period. If the Company is not in compliance with the Company Guide by the applicable deadlines or if the Company does not make progress consistent with the plan during the plan period, Exchange staff will initiate delisting proceedings as appropriate. About Platinum Group Metals Ltd. Platinum Group Metals Ltd. is focused on the development of the Waterberg palladium and platinum project in South Africa. Joint venture partners Impala Platinum Holdings Ltd., one of the world’s largest integrated PGM producers, and JOGMEC (Japan Oil, Gas and Metals National Corporation) are also funding and contributing to the definitive feasibility study currently in progress. Waterberg represents a large-scale PGM resource with an attractive risk profile given its thickness and shallow nature, which facilitates fully mechanized production with the potential for the project to have amongst the lowest operating costs in the PGM sector. On behalf of the Board of Platinum Group Metals Ltd. R. Michae...