Equity Financing TSX British Columbia Platinum NYSE American South Africa

Platinum Group Metals announces public offering

News Release


Vancouver, B.C. (May 3, 2018) – Platinum Group Metals Ltd. (PTM-TSX, PLG-NYSE American) (the “Company” or “Platinum Group Metals”) announces that it has commenced a proposed underwritten public offering of units (the “Offering”). Each unit (a “Unit”) will entitle the holder to acquire, for no additional consideration, one common share (“Common Share”) of Platinum Group Metals and one-half of one common share purchase warrant (each whole common share purchase warrant a “Warrant”) of Platinum Group Metals.

Each whole Warrant will entitle the holder thereof to purchase one Common Share at a price and for a term to be determined in the context of marketing for the Offering.

In addition, the Company intends to grant the underwriters an option to purchase additional Units, Common Shares or Warrants, or any combination thereof, equal to up to 15% of the aggregate number of such securities to be sold in the Offering on the same terms and conditions.

BMO Capital Markets is acting as sole book-running manager for the proposed Offering. Roth Capital Partners is acting as co-manager for the proposed Offering in connection with offers and sales outside of Canada. The proposed Offering will be subject to customary conditions, including the approval of the Toronto Stock Exchange and the NYSE American Stock Exchange, and there can be no assurance as to whether or when the proposed Offering may be completed, or as to the actual size or terms of the Offering.

The Company intends to use the net proceeds of the Offering: (i) for debt repayment towards a loan facility and production payment termination fees due to Liberty Metals & Mining Holdings, LLC; and (ii) for general corporate and working capital purposes.

The Offering is being conducted pursuant to the Company’s effective shelf registration statement on Form F-10 filed with the U.S. Securities and Exchange Commission (the “SEC”) and a corresponding Canadian base shelf prospectus filed with the securities regulatory authority in each of the provinces of Canada, except Quebec. The proposed offering will be made only by means of a preliminary prospectus supplement, a final prospectus supplement and the accompanying short form base shelf prospectus.

A copy of the prospectus supplement and base shelf prospectus relating to the Offering in Canada may be obtained by contacting BMO Capital Markets, Brampton Distribution Centre C/O The Data Group of Companies, 9195 Torbram Road, Brampton, Ontario, L6S 6H2 or by telephone at (905) 791-3151 Ext 4312 or by email at torbramwarehouse@datagroup.ca. A copy of the prospectus supplement and base shelf prospectus relating to the Offering in the United States may be obtained by contacting BMO Capital Markets Corp., Attn: Equity Syndicate Department, 3 Times Square, 25th Floor, New York, NY 10036 (Attn: Equity Syndicate), or by telephone at (800) 414-3627 or by email at bmoprospectus@bmo.com.

This news release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of the Units, Common Shares or Warrants in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of that jurisdiction.

About Platinum Group Metals Ltd.

Platinum Group is focused on, and is the operator of, the Waterberg Project, a bulk mineable underground deposit in northern South Africa. Waterberg was discovered by the Company.

For further information, please contact:

R. Michael Jones, President
or Kris Begic, VP, Corporate Development
Platinum Group Metals Ltd., Vancouver
Tel: (604) 899-5450 / Toll Free: (866) 899-5450

The Toronto Stock Exchange and the NYSE American LLC have not reviewed and do not accept responsibility for the accuracy or adequacy of this news release, which has been prepared by management.

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