/NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRES OR FOR DISSEMINATION IN
THE UNITED STATES/
TORONTO, Nov. 9 /CNW/ - Platmin Limited (TSX, AIM: PPN) (the "Company" or
"Platmin") announced today that it has engaged RBC Dominion Securities and GMP
Securities L.P. to lead a syndicate, including Haywood Securities Inc.
(collectively the "Underwriters"), to market, subject to regulatory approval,
an offering of common shares of Platmin Limited (the "Common Shares") to raise
funds principally to advance the development of the Company's Pilanesberg
Project. Platmin has also granted to the Underwriters the option to purchase
up to an additional 15% of the Common Shares sold at the offering price per
Common Share for a period of thirty (30) days following the closing. The size
of the offering, subject to final pricing and market conditions, is expected
to be approximately US$150 million.
Platmin will file today, with the securities commissions and other
similar regulatory authorities in each of the provinces of Canada (other than
Québec), a preliminary short form prospectus relating to the issuance of the
Common Shares. Closing of the offering is expected to take place by the end of
This news release shall not constitute an offer to sell, or the
solicitation of an offer to buy, any securities in any jurisdiction. The
Common Shares being offered have not been and will not be registered under the
U.S. Securities Act of 1933 and state securities laws. Accordingly, the Common
Shares may not be offered or sold in the United States except pursuant to
applicable exemptions from registration.
Platmin is a TSX and AIM (PPN) listed PGM exploration and development
company focused on its four key advanced projects that host PGM mineral
resources and reserves: Pilanesberg, M'Phatlele, Grootboom, and Loskop of
which the first three are currently in the development phase. All of Platmin's
projects are located in the Bushveld Complex of South Africa, which is
estimated to contain approximately 90% of global platinum resources.
CAUTIONARY NOTE REGARDING FORWARD-LOOKING INFORMATION
Certain statements contained in this news release constitute
forward-looking information within the meaning of securities laws, including
statements regarding the completion and size of the offering of common shares.
Forward-looking information may relate to this and other matters identified in
our public filings, our future outlook and anticipated events or results and,
in some cases, can be identified by terminology such as "may", "will",
"should", "expect", "plan", "anticipate", "believe", "intend", "estimate",
"predict", "potential", "continue" or other similar expressions concerning
matters that are not historical facts. These statements are based on certain
factors and assumptions including the results of marketing efforts, expected
growth, results of operations, performance and business prospects and
opportunities. While we consider these assumptions to be reasonable based on
information currently available to us, they may prove to be incorrect.
Forward looking-information is also subject to certain factors, including
risks and uncertainties that could cause actual results to differ materially
from what we currently expect. These factors include changes in market and
competition, governmental or regulatory developments and general economic
conditions. There can be no assurance that the offering of Common Shares will
be completed at all or on terms acceptable to Platmin.
For further information:
For further information: Platmin Limited: 6 EcoFusion Office Park, Block
B, 324, Witch-Hazel Avenue, Highveld Park X59, 0157, Centurion, 0067, South
Africa; Keith Liddell, Executive Deputy Chairman, +61 8 9221 7466; Ian Watson,
Chief Executive Officer, +27 12 661 4280; RBC Capital Markets: Craig Werstiuk,
+44 20 7653 4567; Grant Thornton Corporate Finance (Nomad): Fiona Owen, +44207
383 5100; Haywood Securities: John Willett, (416) 507-2345