CAPE TOWN, South Africa, Feb. 8, 2019 /CNW/ - Hosken Consolidated Investments Limited ("HCI") announced today that on February 4, 2019 it acquired, on a private placement basis through its subsidiary Deepkloof Limited, 2,141,942 common shares of Platinum Group Metals Ltd. (TSX:PTM; NYSE American:PLG) ("PTM") at a price of US$1.33 per share for total consideration of US$2,848,783.
Immediately before the acquisition, HCI held 4,383,447 common shares of PTM, representing 14.77% of PTM's issued and outstanding common shares, and 3,999,999 common share purchase warrants. This acquisition brings HCI's total holdings in the common shares of PTM to 6,525,389, or 19.89%.
HCI is a South African black empowerment investment holding company with a US$750 billion market capitalization, listed on the JSE Securities Exchange. It is incorporated under the laws of South Africa and its head office is located at 8th Floor The Point 76 Regent Road Sea Point Cape Town 8005.
The PTM securities were purchased and are presently being held by HCI for investment purposes. In the future, HCI or its affiliates may acquire additional securities of PTM or dispose of such securities subject to a number of factors, including general market and economic conditions and other investment and business opportunities available.
A copy of the Early Warning Report to which this press release relates can be obtained on the SEDAR profile of the Issuer at www.sedar.com.
SOURCE Hosken Consolidated Investments Limited