Platinum Group Metals Ltd. announced a non-brokered private placement of 3,539,823 common shares at a price of $1.695 per common share for gross proceeds of $5,999,999.985 on January 25, 2022. The transaction will include participation from existing investor, Hosken Consolidated Investments Limited and will hold 26% stake in the company after completion. The securities are being subject to four months and one day hold period.

The closing of the transaction is subject to the prior issuance of the note repurchase shares and customary closing conditions, including stock exchange approvals.