TORONTO, March 11 /CNW/ - Geologic Resource Partners LLC ("Geologic")
announced that it purchased an aggregate 1,678,367 common shares in the
capital of Platinum Group Metals Ltd. ("Platinum") from December 2007 up to
and including the end of February, 2008. Prior to these purchases, Geologic
held 4,820,904 common shares and 850,000 common share purchase warrants (the
"Warrants") representing approximately 9.10% of the issued and outstanding
shares of Platinum, on a partially diluted basis. On March 6, 2008 the
warrants were exercised into 850,000 common shares and together with the
additional 1,678,367 common shares purchased, Geologic's aggregate holdings in
the capital of Platinum are 7,349,271 common shares, representing
approximately 11.77% of the issued and outstanding shares of Platinum.
Geologic has purchased these securities for investment purposes, and may
increase or decrease its beneficial ownership of securities of Platinum
depending upon future market conditions.
Geologic is an investment advisory firm specializing in precious metals,
industrial metals, and energy minerals equities.
For further information:
For further information: George Ireland, Chief Investment Officer, at