Liberty Metals & Mining Holdings, LLC

December 31, 2014 14:18 ET

Liberty Metals & Mining Holdings, LLC Acquires Shares of Platinum Group Metals Ltd.

VANCOUVER, BRITISH COLUMBIA--(Marketwired - Dec. 31, 2014) - Liberty Metals & Mining Holdings, LLC ("LMMH") is pleased to announce that today it acquired 52,832,000 common shares (the "Purchased Shares") in the capital of Platinum Group Metals Ltd. ("Platinum") at a price of US$0.53 per Purchased Share for gross proceeds of approximately US$28 million. The Purchased Shares were acquired pursuant to a final short form prospectus dated December 19, 2014 and represent approximately 6.9% of Platinum's total issued and outstanding share capital.

As of the close of business today, LMMH owns, together with the common shares of Platinum previously held by LMMH, 145,854,411 common shares of Platinum, representing approximately 19% of Platinum's total issued and outstanding share capital.

LMMH acquired the Purchased Shares for investment purposes. Depending on market conditions and other factors, LMMH may from time to time acquire additional securities of Platinum or dispose of securities of Platinum in the open market, by private agreement or otherwise.

For further information and to obtain a copy of the early warning report filed under applicable Canadian securities laws in connection with the transaction hereunder, please see Platinum's profile on SEDAR at www.sedar.com.

Contact Information

  • Liberty Metals & Mining Holdings, LLC
    Mark Tomek
    1-857-224-8970
    1-857-224-8663 (FAX)