Liberty Metals & Mining Holdings, LLC Updates Holdings in Platinum Group Metals Ltd.

BOSTON, Jan. 22, 2021 (GLOBE NEWSWIRE) -- Liberty Metals & Mining Holdings, LLC (“LMM”) announces that LMM sold through the facilities of the New York Stock Exchange 3,328,544 common shares (each, a “Common Share”) of Platinum Group Metals Ltd. (“Platinum”) at a price of US$4.00 per Common Share (or C$5.08 per Common Share) for aggregate gross proceeds of US$13,314,176 (or C$16,932,969.03) (the “Sale”).

Immediately prior to the Sale, LMM held 11,061,819 Common Shares, representing 15.32% of the then issued and outstanding Common Shares.

Following the Sale, LMM held 7,733,275 Common Shares, representing 10.71% of the 72,209,776 of the issued and outstanding Common Shares.

LMM acquired the Common Shares for investment purposes. LMM is evaluating additional dispositions of securities of Platinum, the timing of which (if any) would depend on market conditions, its continuing evaluation of the business and prospects of Platinum and other factors. LMM intends to monitor and evaluate its investment in Platinum in light of pertinent factors, market conditions, Platinum’s performance and prospects, the trading prices of the Common Shares, conditions in the industry and general economic conditions. LMM may maintain its current investment or dispose of some or all of its Common Shares.

This press release is being issued pursuant to the requirements of National Instrument 62-103 – The Early Warning System and Related Take-Over Bid and Insider Reporting Issues of the Canadian Securities Administrators. For further information and to obtain a copy of the early warning report that will be filed under applicable Canadian securities laws in connection with the transactions hereunder, please see Platinum’s profile on the SEDAR website www.sedar.com.

All amounts converted from US$ to C$ have been converted using the Bank of Canada average one week rate as at January 19, 2021

Investors seeking further information or a copy of the early warning report should contact:

Damon Barber
Liberty Metals & Mining Holdings, LLC
157 Berkeley Street, 22nd Floor
Boston, MA 02116
Telephone: 1-857-224-0626

Media Contact: please send inquiries to mediarelations@libertymutual.com