Ook maar even toegevoegd, ook een favorietje.
Sprott heeft zich erin gekocht onlangs.
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