VANCOUVER, BRITISH COLUMBIA--(Marketwired - Nov. 1, 2016) - Group Ten Metals Inc. (TSX VENTURE:PGE)(FRANKFURT:5D31) (the "Company" or "Group Ten") will be filing for and seeking approval of a consolidation of the company's issued and outstanding share capital with the TSX Venture Exchange. The intended consolidation will be on a basis of one post-consolidation common share for every eight pre-consolidation common shares. This consolidation will reduce the issued and outstanding shares of the Company from 33,100,800 to approximately 4,137,600 shares.
The proposed share consolidation is intended to better position the Company to raise the funds it requires to finance continuing business activities, advance its mineral projects and address its debts.
The consolidation is subject to approval by the TSX-V. The Company does not intend to change its name or its current trading symbol in connection with the proposed share consolidation. The effective date of the consolidation will be disclosed in a subsequent news release.
On Behalf of the Board of Directors
GROUP TEN METALS INC.
Michael Rowley, President & Director
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
