Platinum Group Metals Announces Public Offering of Units

About this update from Platinum Group Metals Ltd.

VANCOUVER, British Columbia, May 03, 2018 (GLOBE NEWSWIRE) -- Platinum Group Metals Ltd. (TSX:PTM) (NYSE American:PLG) (the “Company” or “Platinum Group Metals”) announces that it has commenced a proposed underwritten public offering of units (the “Offering”). Each unit (a “Unit”) will entitle the holder to acquire, for no additional consideration, one common share (“Common Share”) of Platinum Group Metals and one-half of one common share purchase warrant (each whole common share purchase warrant a “Warrant”) of Platinum Group Metals. Each whole Warrant will entitle the holder thereof to purchase one Common Share at a price and for a term to be determined in the context of marketing for the Offering. In addition, the Company intends to grant the underwriters an option to purchase additional Units, Common Shares or Warrants, or any combination thereof, equal to up to 15% of the aggregate number of such securities to be sold in the Offering on the same terms and conditions. BMO Capital Markets is acting as sole book-running manager for the proposed Offering. Roth Capital Partners is acting as co-manager for the proposed Offering in connection with offers and sales outside of Canada.  The proposed Offering will be subject to customary conditions, including the approval of the Toronto Stock Exchange and the NYSE American Stock Exchange, and there can be no assurance as to whether or when the proposed Offering may be completed, or as to the actual size or terms of the Offering. The Company intends to use the net proceeds of the Offering: (i) for debt repayment towards a loan facility and production payment termination fees due to Liberty Metals & Mining Holdings, LLC; and (ii) for general corporate and working capital purposes.  The Offering is being conducted pursuant to the Company's effective shelf registration statement on Form F-10 filed with the U.S. Securities and Exchange Commission (the "SEC") and a corresponding Canadian base shelf prospectus filed with the securities regulatory authority in each of the provinces of Canada, except Quebec.  The proposed offering will be made only by means of a preliminary prospectus supplement, a final prospectus supplement and the accompanying short form base shelf prospectus. A copy of the prospectus supplement and base shelf prospectus relating to the Offering in Canada may be obtained by contact...

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