Platinum Group Metals Secures $1 Million Investment from Major Shareholder HCI for Waterberg Project Development

Platinum Group Metals Ltd. has successfully closed a US$1.008 million non-brokered private placement with its major shareholder Hosken Consolidated Investments Limited (HCI), demonstrating continued investor confidence in the company's strategic development plans. The transaction, finalized on May 29, 2025, involved the issuance of 800,000 common shares at US$1.26 per share. This investment restores HCI's ownership stake to 26% in the company, signaling a strong ongoing partnership between the two entities.

Proceeds from the private placement will be strategically allocated to support pre-construction and engineering work at the Waterberg Project, a significant bulk underground palladium and platinum deposit located in South Africa. The project is being jointly developed by Platinum Group Metals, Implats, Mnombo, and HJM, representing a collaborative effort in the mining sector. This funding injection comes at a crucial time for the project's advancement and demonstrates the commitment of existing stakeholders to see the development through its critical early stages.

The transaction was negotiated expeditiously and qualifies for exemptions under MI 61-101, given HCI's status as a related party. This approach highlights the company's efficient capital-raising strategy and commitment to maintaining strong relationships with key stakeholders. The ability to secure funding quickly from an existing major shareholder underscores the confidence in Platinum Group Metals' management and development strategy, particularly during a period when many mining companies face challenges in raising capital for large-scale projects.

The Waterberg Project represents a critical asset in the platinum group metals sector, with potential significant implications for South Africa's mining industry and global precious metals supply. By securing additional funding, Platinum Group Metals continues to advance its development efforts and strengthen its position in the competitive mining landscape. The project's successful development could have substantial economic impacts on the local region while contributing to global platinum and palladium supplies, metals essential for various industrial applications including automotive catalysts and hydrogen technologies.