October 24, 2016 / 8:27 PM / a year ago

BRIEF-Platinum Group announces $40 mln bought deal financing

Oct 24 (Reuters) - Platinum Group Metals Ltd

* Announces U.S. $40 million bought deal financing

* Says underwriters agreed to buy on a bought deal basis 22.2 million common shares of company at a price of U.S. $1.80 per common share

* Says net proceeds of offering will be used for underground development, production ramp-up of project 1 Maseve platinum mine among others Source text for Eikon: Further company coverage:

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