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Group Ten Metals Announces Warrant Exercises for Gross Proceeds of $2.38 Million
VANCOUVER, BC / ACCESSWIRE / March 3, 2020 / Group Ten Metals Inc. (TSXV:PGE)(OTCQB:PGEZF)(FS...
About this update from Stillwater Critical Minerals Corp
[{"type":"text","content":"Group Ten Metals Announces Warrant Exercises for Gross Proceeds of $2.38 MillionVANCOUVER, BC / ACCESSWIRE / March 3, 2020 / Group Ten Metals Inc. (TSXV:PGE)(OTCQB:PGEZF)(FSE:5D32) (the \"Company\" or \"Group Ten\") is pleased to announce that it has received total gross proceeds of $2.38 million, since January 1, 2020, from the exercise of the remaining warrants from its February 27, 2017 financing. Directors, management, and employees of the Company exercised 100% of their warrants, contributing $1.1 million to the proceeds and resulting in a more than 24% ownership in Group Ten on a current issued and outstanding share basis.Proceeds from exercise of these warrants have, and will be, directed to Group Ten Metals' exploration programs and general corporate purposes.President & CEO, Michael Rowley, stated, \"We very much appreciate the strong, ongoing support from our long-term shareholders who, with these warrant exercises, have demonstrated clear recognition of the potential of our high-quality assets and world-class teams. The Company is now well-positioned for growth with a healthy balance sheet and 100% interest in a portfolio of high-potential, district-scale exploration properties in proven mining districts which were acquired strategically through the low part of the metal price cycle. We look forward to further news releases in the coming weeks as we continue to release results from our 2019 programs and announce our plans for the year ahead, in particular with respect to our flagship Stillwater West PGE-Ni-Cu project in Montana, USA.\"Upcoming News and EventsA news release presenting assay results from 2019 exploration work at Chrome Mountain is anticipated soon, along with rhodium assays from select core and rock samples from across the property. Results from other work in 2019, plus also updates on the Company's Yukon PGE-Ni-Cu and Ontario gold projects, will also be featured in forthcoming releases.Group Ten is attending the 2020 Prospectors and Developers Association Convention (PDAC) in Toronto from March 1st to 4th, based at Booth 3024 with fellow Metallic Group companies, Metallic Minerals Corp. and Granite Creek Copper.About Stillwater WestThe Stillwater West PGE-Ni-Cu project positions Group Ten as the second largest landholder in the Stillwater Complex, adjoining and adjacent to Sibanye-Stillwater's Stil...