May 27, 2009 / 9:01 PM / 8 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)

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