May 27, 2009 / 9:01 PM / 9 years ago

UPDATE 1-Platinum Group to raise C$35 mln through units offering

* Files prospectus for offering of units

* To use proceeds mainly for paying dues with Anglo Platinum

May 27 (Reuters) - Canada’s Platinum Group Metals Ltd (PTM.TO) said it plans to raise C$35 million ($31.45 million) through an offering of units, mainly to pay Anglo Platinum Ltd certain amounts due related to the restructuring of a joint venture.

Each unit would consist of one common share in the capital of Platinum Group and one-half of one common share purchase warrant, Platinum Group said.

The payment to Anglo Platinum presently stands at about C$28 million, Platinum Group said.

The company expects the offering to close on or about June 19.

Shares of the company closed at C$1.60 Wednesday on the Toronto Stock Exchange. ($1=1.113 Canadian dollar) (Reporting by Ashutosh Joshi in Bangalore; Editing by Deepak Kannan)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below