Platinum Group completes Maseve mine sale
Monday, Apr 30, 2018

Platinum Group Metals Ltd. reports the completion of the previously announced sale of 100% of the equity in Maseve Investments 11 (Pty) Ltd. (“Maseve”), the holding company of the Maseve Mine, and all shareholder loans owed by Maseve, to Royal Bafokeng Platinum Limited (“RBPlat”).  Aggregate consideration for the sale consisted of 4,871,335 RBPlat common shares, which have been delivered, and the agreement to the release of an environmental bond posted by the Company in Rand, currently worth approximately US$4.7 million1, following RBPlat’s replacement of the environmental bond for Maseve.  Of the 4,871,335 RBPlat common shares issued in connection with the sale of Maseve, 347,056 were delivered in trust for a minority shareholder of Maseve.  The Company will no longer be responsible for care and maintenance costs or the ongoing operations or commitments of Maseve.

The Company intends to pay all of its net proceeds from this transaction, which may take several months to be fully realized into cash, to reduce outstanding indebtedness pursuant to a secured loan facility (the “LMM Facility”) with Liberty Metals & Mining Holdings, LLC (“LMM”).

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