CAPE TOWN, South
Africa, June 18,
2020 /CNW/ - Hosken
Consolidated Investments Limited ("HCI") announced today
that on June 17, 2020, it acquired,
through its subsidiary Deepkloof Limited, 500,000 common shares of
Platinum Group Metals Ltd. (TSX: PTM) (NYSE American: PLG)
("PTM") on a private placement basis at a price of
US$1.40 per share for total
consideration of US$700,000. This acquisition
brings HCI's total holdings in the common shares of PTM to
20,081,988, or 31.591%.
On November 15, 2019,
3,742,999 warrants (the "Warrants") of PTM held by HCI
through its subsidiary, Deepkloof Limited, expired. As reported by
HCI on August 23, 2019, prior to the
expiry of Warrants and assuming full exercise of the Warrants, HCI,
through its subsidiary Deepkloof Limited, had ownership and control
over 21,432,499 of the issued and outstanding common shares of PTM,
representing 34.39% on a fully-diluted basis. On December 19, 2019, HCI acquired 1,612,931 common
shares of PTM. Accordingly, taking into account the expiry of
the Warrants and the acquisition of common shares on December 19, 2019, immediately prior to the
June 17, 2020 acquisition, HCI had
ownership and control over 19,581,988 common shares of PTM, or
31.408%.
HCI is a South African black empowerment investment
holding company with an approximately US$140
million 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 PTM at
www.sedar.com.
SOURCE Hosken Consolidated Investments Limited