- Platinum Group Metals (NYSE:PLG +6.8%) closed its previously announced bought deal financing with BMO Capital Markets in the US
- The company sold ~8.3M shares at $1.25 for gross proceeds of ~$10.4M
- Additionally, closed private placement of 7.6M shares to Liberty Metals & Mining (LMM) and 6.9M shares to Deepkloof at t $1.32/share for gross proceeds of $10M and of ~$9.2M, respectively
- The Company used a portion of the proceeds, along with $20M advance under its new credit agreement with Sprott, to repay its secured loan facility of $43M with LMM.
- The Company intends to use the remaining net proceeds for working capital and general corporate purposes.