Platinum Group Metals Ltd. Enters into At-The-Market Offering Sales Agreement

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Overig advies 07/02/2021 16:00
Vancouver, British Columbia and Johannesburg, South Africa--(Newsfile Corp. - February 5, 2021) - Platinum Group Metals Ltd. (TSX: PTM) (NYSE American: PLG) ("Platinum Group" or the "Company") reports that it has entered into an Equity Distribution Agreement (the "Sales Agreement") with BMO Capital Markets Corp. ("BMO"), effective as of February 5, 2021. Under the Sales Agreement, Platinum Group may sell its common shares in the capital of the Company from time to time for up to US$50.0 million in aggregate sales proceeds in "at-the-market" transactions. No offers or sales of common shares will be made in Canada, to anyone known by BMO to be a resident of Canada or on or through the facilities of the Toronto Stock Exchange (the "TSX") or other trading markets in Canada.

For more complete information about the Company and the offering, investors are directed to read the prospectus supplement relating to and describing the terms of the offering, and the related registration statement on Form F-3 and other documents that Platinum Group has filed with the Securities and Exchange Commission (the "SEC"). You may get these documents for free by visiting EDGAR on the SEC website at www.sec.gov. Alternatively, copies of the prospectus supplement relating to the offering may be obtained, when available, from:

BMO Capital Markets Corp.
3 Times Square
New York, NY 10036
Facsimile: (212) 702-1205
Attention: Equity Capital Markets Desk

or by emailing bmoprospectus@bmo.com.

The Company has relied on the exemption for "Eligible Interlisted Issuers" under Section 602.1 of the TSX Company Manual in connection with the listing of the common shares on the TSX under the offering.

This press release does not constitute an offer to sell or a solicitation of an offer to buy the securities being offered, nor may there be any sale of the securities being offered in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any state or other jurisdiction.

The Company intends to use the net proceeds of the offering to repay a portion or all of the Company's secured loan facility with Sprott Private Resource Lending II (Collector), LP ("Sprott") entered into on August 15, 2019 (the "2019 Sprott Facility"), and for general corporate purposes, including pre-construction engineering, site work and preparation for the Waterberg Project. The Company may elect to use a portion of the net proceeds of the offering allocated to general corporate purposes to repay a portion or all of the Company's 6 7/8% convertible senior subordinated notes due 2022.

About Platinum Group Metals Ltd. and Waterberg Project

Platinum Group Metals Ltd. is the operator and majority owner of the Waterberg Project, a bulk underground palladium, platinum, gold and rhodium deposit located in South Africa. The Waterberg Project was discovered by Platinum Group and is being jointly advanced with the shareholders of Waterberg JV Resources (Pty) Ltd. ("Waterberg JV Co."), being Platinum Group, Impala Platinum Holdings Ltd., Japan Oil, Gas and Metals National Corporation, Hanwa Co. Ltd. and Mnombo Wethu Consultants (Pty) Ltd. ("Mnombo").

In 2019, the Company founded Lion Battery Technologies Inc. in partnership with Anglo American Platinum Limited to support the use of palladium and platinum in lithium battery applications.

On behalf of the Board of
Platinum Group Metals Ltd.



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