Vancouver, BC – June 26, 2020 – Group Ten Metals Inc. (“Group Ten” or the “Company”) (TSX.V:PGE; OTCQB:PGEZF; FSE:5D32) is pleased to announce a non-brokered private placement offering of units of the
Company (the “Units”) at a price of $0.20 per Unit (the “Offering Price”) for aggregate gross proceeds of up to $3,000,000 (the “Offering”).
NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES
Each Unit will consist of one common share of the Company (a “Common Share”) and one common share purchase warrant of the Company (a “Warrant”). Each Warrant will be exercisable to purchase a common share of the Company (a “Warrant Share”) at an exercise price of $0.30 per Warrant Share for a period of 36 months following the Closing (as defined herein).
The net proceeds from the Offering will be used for exploration at the Company’s Stillwater West PGE-Ni-Cu project in Montana, USA, and working capital purposes.
President and CEO Michael Rowley stated, “We are very pleased with the level of interest in the Company and our 2020 program from new investors and existing shareholders alike. The Stillwater West PGE-Ni-Cu-Co project, now owned 100% by Group Ten, offers a rare opportunity to participate in a district-scale asset focused on the delineation and development of strategic commodities, in a productive mining district, in the USA. Proceeds from this placement will complement our in-the-money warrants and cash on hand to drive a more robust drill program at Stillwater West this year, where the technical team is now in place advancing earlier stage targets. We are fully permitted and look forward to providing additional details on our exploration plans, plus updates on 3D models now underway at the most advanced target areas.”
The Offering is anticipated to close on or about the week of July 15, 2020 (the “Closing Date” or “Closing”). The Units and the underlying securities to be issued under the Offering will have a hold period of four months and one day from Closing.
The Company may pay finders' fees to eligible finders in connection with the Offering.
The issuance of the Units and payment of the Finder’s Fee is subject to certain conditions including, but not limited to, the receipt of all necessary approvals including the approval of the TSX Venture Exchange.
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Für weitere Informationen:
Group Ten Metals Inc.
President, CEO & Director
Tel. 1-604-357 4790
Im deutschsprachigen Raum:
73728 Esslingen am Neckar
Tel. +49-711-82 09 72 11
Fax +49-711-82 09 72 15
Quelle: Group Ten Metals