Business
Group Ten Completes $1.2 Million Private Placement Financing
VANCOUVER, British Columbia, Nov. 23, 2018 (GLOBE NEWSWIRE) -- Group Ten Metals Inc. (TSX.V: PGE; OTC: PGEZF, FSE: 5D32) (the “Company” or “Group Ten”) announce
About this update from Stillwater Critical Minerals Corp
[{"type":"text","content":" VANCOUVER, British Columbia, Nov. 23, 2018 (GLOBE NEWSWIRE) -- Group Ten Metals Inc. (TSX.V: PGE; OTC: PGEZF, FSE: 5D32) (the “Company” or “Group Ten”) announces that it has completed a private placement for aggregate proceeds of $1,200,000 through the issuance of eight million units at a price of $0.15 per unit. Each unit consists of one common share of the Company and one half-share purchase warrant. Each full warrant (a “Warrant”) entitles the holder to acquire one common share of the Company at an exercise price of $0.225 per Warrant share for a period of 36 months following the closing date of the private placement. If the closing price of the Company’s common shares on the TSX Venture Exchange is greater than 30 cents per share for a period of 10 consecutive trading days, the company may elect to accelerate the expiry date of part or all of the Warrants, at any date that is four months and one day after the closing date, by giving notice thereof to the holders of the Warrants. In such case, that portion of the Warrants would be subject to an expiry date that is 30 business days after the date on which such notice is given by the Company. President and CEO Michael Rowley stated: “We are pleased with the level of interest from new shareholders alongside the support from our existing shareholders in completing this private placement. Our newest asset, the Stillwater West Project, continues to receive significant interest based on the potential for discovery of large-scale ‘Platreef-style’ PGM-Ni-Cu systems, based on parallels with the Bushveld Complex in South Africa. The team has been working hard on both the exploration and corporate fronts, and we look forward to reporting results in the coming weeks and months.” Greg Johnson, Chairman of both Group Ten and the Metallic Group said: “We are pleased to complete the Group Ten financing, which was undertaken concurrently with independent private placements at the two other companies that make up the Metallic Group, being Metallic Minerals and Granite Creek Copper. In aggregate, the Metallic Group companies anticipate raising in excess of $3 million in new financing despite what continues to be challenging market conditions.\" Mr. Johnson continued: \"The Metallic Group founders and team members include a number of highly successful explorationists formerly with some of the in...