Brief: Platinum Group announces $40 mln bought deal financing

Platinum Metals

24/10/2016 21:09

Oct 24 (Reuters) - Platinum Group Metals Ltd  PTM.TO  
    * Announces U.S. $40 million bought deal financing 
    * Says underwriters agreed to buy on a bought deal basis 
22.2 million common shares of company at a price of U.S. $1.80 
per common share 
    * Says net proceeds of offering will be used for underground 
development, production ramp-up of project 1 Maseve platinum 
mine among others 
 
Source text for Eikon:  ID:nCCN1X83Q6  
Further company coverage:  PTM.TO  
 
 ((Bangalore.newsroom@thomsonreuters.com;))