TSX-listed Platinum Group Metals (PTM) on Tuesday announced its intention to raise $1.3-million in a private placement.
The company will sell 1.1-million shares at a price of $1.17 apiece to Hosken Consolidated Investments, which already holds 20.05% of the company’s shares.
The proceeds will be used to complete a definitive feasibility study (DFS) for the company’s Waterberg palladium/platinum project, in South Africa’s Limpopo province, as well as for general corporate and working capital purposes.