Platinum Group Metals Executes Credit Agreement for US$40 Million

Platinum Group Metals Ltd. (TSX:PTM) announced that it has entered into a credit agreement with Sprott Resource Lending Partnership for a senior secured loan facility of up to US$40 million.

As quoted in the press release:

The Company will use the proceeds of the Facility for the development and operation of the WBJV Project 1 and for general working capital purposes. The Facility matures on December 31, 2017.

R. Michael Jones, CEO and co-founder of the company, stated:

We are pleased to have this facility executed as another significant milestone towards production planned in the fourth quarter of 2015.

Click here for the full Platinum Group Metals Ltd. (TSX:PTM) press release