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