Group Ten Metals Completes $500,000 Flow-Through Private Placement
TSX VENTURE: PGE
VANCOUVER, British Columbia, Dec. 28, 2017 (GLOBE NEWSWIRE) -- Group Ten Metals Inc. (TSX.V:PGE) (US OTC:PGEZF) (FSE:5D32) (the “Company” or “Group Ten”) is pleased to announce that, subject to final approval by the TSX Venture Exchange, it has raised aggregate proceeds of $500,000 through the issuance of 2,000,000 common shares (the “Private Placement”) on a flow-through basis (“FT Shares”) at a price of $0.25 per FT Share, which represents a 19% premium to the closing price on the TSX Venture Exchange on December 27, 2017.
Proceeds will be used for Canadian Exploration Expenses (within the meaning of the Income Tax Act (Canada)) on the Company’s Yukon and Ontario assets.
The FT Shares will be subject to the customary four month plus one day hold period from their date of issuance under applicable Canadian securities laws.
Group Ten has agreed to pay a finder's fee of 6% of the gross proceeds.
About Group Ten Metals Inc.
Group Ten Metals Inc. is a Canadian mineral exploration company focused on the acquisition and development of high-quality platinum, palladium, nickel, copper and gold exploration assets in North America. The Company’s holdings include the Stillwater West PGE-Ni-Cu project adjacent to Sibanye-Stillwater’s high-grade Pd-Pt mines in Montana, the Kluane PGE-Ni-Cu project adjacent to Wellgreen Platinum in the Yukon Territory, and the Black Lake-Drayton Gold project in the Rainy River district of northwest Ontario.