Platinum Group Metals Secures $1.01 Million Private Placement for Waterberg Project Development

Platinum Group Metals Ltd. (NYSE American: PLG) (TSX: PTM) announced plans to raise approximately $1.01 million through a private placement of 800,000 common shares with major shareholder Hosken Consolidated Investments Limited (HCI). The share placement, priced at $1.26 per share, represents a 3.1% premium to the five-day volume-weighted average price on NYSE American as of May 9, indicating strong investor confidence in the company's valuation and future prospects.

The capital infusion will be directed toward supporting pre-construction activities at the Waterberg Project in South Africa while also addressing general corporate requirements. This strategic funding comes at a critical juncture for the company's development pipeline, ensuring continued momentum for one of the most significant palladium and platinum projects in the region. The Waterberg Project represents a substantial bulk underground palladium and platinum deposit being jointly developed through collaboration between Platinum Group Metals, Implats, Mnombo, and HCI, highlighting the multi-stakeholder approach to advancing mineral resource extraction in the area.

Following the transaction's completion, HCI will maintain a 26% ownership position in Platinum Group Metals, reinforcing its long-term commitment to the company's growth strategy. The proposed share issuance remains subject to regulatory approval and will be executed under exemptions to registration and shareholder approval requirements, given HCI's status as a related party. This streamlined approval process reflects the strategic nature of the investment and the established relationship between the companies.

The shares issued through this private placement will be subject to a four-month-plus-one-day resale restriction period, ensuring compliance with securities regulations and demonstrating the company's commitment to regulatory transparency. This capital raise represents a significant step forward in funding the development of the Waterberg Project, which has been identified as a key asset in Platinum Group Metals' portfolio. The continued investment from major shareholders underscores the project's potential and the confidence in its successful development trajectory within the competitive platinum group metals market.