Platinum Group Metals Secures $1 Million Investment from Major Shareholder HCI
Platinum Group Metals has closed a private placement with Hosken Consolidated Investments, raising funds to support pre-construction and engineering work at its Waterberg Project in South Africa. The investment reaffirms HCI's strategic commitment to the company's platinum development efforts.
Platinum Group Metals Ltd. has completed a non-brokered private placement with major shareholder Hosken Consolidated Investments Limited (HCI), raising US$1.008 million through the issuance of 800,000 common shares at US$1.26 per share. The transaction, finalized on May 29, 2025, restores HCI's ownership stake to 26% in the company.
The investment is strategically significant for the Waterberg Project, a bulk underground palladium and platinum deposit located in South Africa. Proceeds from the placement will support pre-construction and engineering work, as well as fund general corporate purposes. The transaction was negotiated under expedited terms and qualifies for exemptions under MI 61-101 due to HCI's status as a related party.
The investment underscores HCI's continued confidence in the Waterberg Project, which is being jointly developed by Platinum Group Metals, Implats, Mnombo, and HJM. By providing crucial funding, the private placement enables the company to advance its platinum development initiatives and maintain momentum in its operational strategy.