Platmin engages placing agent for fundraising



    
    /NOT FOR DISSEMINATION IN THE UNITED STATES OR OVER UNITED STATES
    NEWSWIRE SERVICES/
    

    TORONTO, May 15 /CNW/ - Platmin Limited ("Platmin", TSX/AIM: PPN)
announces today that it has engaged GMP Securities Europe LLP to conduct a
brokered private placement of common shares of Platmin, to raise, on a best
efforts agency basis, between C$45 million and C$55 million, with an option of
a further C$15 million at the volition of the Company.
    If successful, the proceeds of the private placement will be used for
debt restructuring and for working capital purposes.
    Completion of the proposed private placement is subject to the approval
of the TSX and all other necessary regulatory approvals, as well as customary
closing conditions.

    About Platmin

    Platmin is an explorer and emerging platinum group metal producer whose
four key projects host mineral resources and reserves: Pilanesberg, Mphahlele,
Grootboom and Loskop. All of Platmin's projects are located in the Bushveld
Complex of South Africa, which is estimated to contain approximately 90% of
global platinum mineral resources.





For further information:

For further information: Keith Liddell, Chairman, +27 12 661 4280; Wayne
Koonin, Chief Financial Officer, +27 12 661 4280; Fiona Owen, Grant Thornton
UK LLP (Nominated Adviser), +44 207 383 5100; Marion Brower, Russell &
Associates, +27 11 880 3924

Organization Profile

PLATMIN LIMITED

More on this organization


Custom Packages

Browse our custom packages or build your own to meet your unique communications needs.

Start today.

CNW Membership

Fill out a CNW membership form or contact us at 1 (877) 269-7890

Learn about CNW services

Request more information about CNW products and services or call us at 1 (877) 269-7890