Vancouver-based Platinum Group Metals Ltd. (TSX: PTM; NYSE American: PLG) filed a prospectus supplement on March 10, 2026, qualifying an at-the-market equity offering of common shares for aggregate gross proceeds of up to US$60 million (approximately C$81.4 million).

The Company entered into an equity distribution agreement with BMO Nesbitt Burns Inc. and Beacon Securities Limited as Canadian agents, and BMO Capital Markets Corp. as U.S. agent. The agents will receive a commission of up to 3.0% of gross sales, with estimated offering expenses of approximately US$700,000 (C$950,000), yielding estimated net proceeds of US$57.5 million (approximately C$78.1 million). Shares will be sold at prevailing market prices on the TSX and NYSE American, with no minimum fundraising requirement.

Net proceeds are earmarked for staged development programs at the Waterberg Project in South Africa (US$48.9 million / C$66.3 million) and general corporate and administrative purposes (US$8.6 million / C$11.7 million). On legal matters, Gowling WLG (Canada) LLP and Dorsey & Whitney LLP are acting as Canadian and U.S. counsel, respectively, for the Company, while Blake, Cassels & Graydon LLP and Skadden, Arps, Slate, Meagher & Flom LLP serve as Canadian and U.S. counsel for the agents. The offering is set to terminate by December 13, 2026 at the latest.