Group Ten Announces Private Placement Financings Totaling $1.77 Million, Including Investment by Sprott Asset Management

11 November 2019

VANCOUVER, British Columbia, Nov. 11, 2019 (GLOBE NEWSWIRE) -- Group Ten Metals Inc. (TSX.V: PGE; OTC: PGEZF; FSE: 5D32) (the “Company” or “Group Ten”) is pleased to announce concurrent non-brokered private placements with projected total gross proceeds to the Company of up to $1,770,000 through the issuance of up to 11,000,000 units. As part of this financing, Group Ten will issue up to 5 million non-flow-through units at a price of 15 cents per unit for total gross proceeds of $750,000, where each non-flow-through unit will consist of one common share of the Company and one-half share purchase warrant. The Company will also issue up to 6 million flow-through units at a price of 17 cents per unit for gross total proceeds of $1,020,000, where each flow-through unit will consist of one flow-through common share of the Company and one-half non-flow-through share purchase warrant. Each whole warrant will entitle the holder to acquire one common share of the Company at an exercise price of 25 cents for a period of 36 months following the closing date of the private placements.

If, at any time after the closing date, the closing price of Group Ten common shares on the TSX Venture Exchange is greater than 37.5 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.

The Company is further pleased to announce the inclusion of funds managed by Sprott Asset Management LP in the flow-through financing.

Michael Rowley, CEO of Group Ten, commented: "We are very pleased to have the support of one of the most prominent funds in the mining industry. This investment in Group Ten highlights the potential of our flagship Stillwater West PGE-Ni-Cu project in Montana, and also the potential of our Canadian assets. These funds put us in a strong position to advance our exciting portfolio of assets.”

The private placements are subject to final TSX Venture Exchange approval and units issued will be subject to a hold period of four months and one day from their date of issuance, under applicable Canadian securities law. Finder's fees may be paid on portions of the planned financings.

This news release does not constitute an offer of securities for sale in the United States. The securities being offered have not been, nor will they be, registered under the United States Securities Act of 1933, as amended, and such securities may not be offered or sold within the United States absent U.S. registration or an applicable exemption from U.S. registration requirements.

About Group Ten Metals Inc.

Group Ten Metals Inc. is a TSX-V-listed Canadian mineral exploration company focused on the development of high-quality platinum, palladium, nickel, copper, cobalt and gold exploration assets in top North American mining jurisdictions. The Company’s core asset is the Stillwater West PGE-Ni-Cu project adjacent to Sibanye-Stillwater’s high-grade PGE mines in Montana, USA.  Group Ten also holds the high-grade Black Lake-Drayton Gold project in the Rainy River district of northwest Ontario and the Kluane PGE-Ni-Cu project on trend with Nickel Creek Platinum‘s Wellgreen deposit in Canada‘s Yukon Territory.

Michael Rowley, President, CEO & Director 
Email: [email protected]Phone: (604) 357 4790
Web: http://grouptenmetals.comToll Free: (888) 432 0075

Forward-Looking Statements
This news release includes certain statements that may be deemed "forward-looking statements". All statements in this release, other than statements of historical facts, including, without limitation, statements regarding plans for future financing(s) and the timing and success of future exploration activities are forward-looking statements that involve various risks and uncertainties. Although Group Ten believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in the forward-looking statements. Forward-looking statements are based on a number of material factors and assumptions. Factors that could cause actual results to differ materially from those in forward-looking statements include failure to obtain necessary approvals, unsuccessful exploration results, changes in project parameters as plans continue to be refined, availability of capital and financing on acceptable terms, general economic, market or business conditions, availability of personnel, materials and equipment on a timely basis, accidents or equipment breakdowns, and other exploration or other risks detailed herein and from time to time in the filings made by the companies with securities regulators. Readers are cautioned that mineral resources that are not mineral reserves do not have demonstrated economic viability. Mineral exploration and development of mines is an inherently risky business. Accordingly, the actual events may differ materially from those projected in the forward-looking statements. For more information on Group Ten and the risks and challenges of their businesses, investors should review their annual filings that are available at

Neither the 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.

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