Group Ten Metals Closes $1.96 Million Private Placement Financings
814-675 West Hastings Street, Vancouver, British Columbia, V6B 1N2 Tel: (604) 357 4790
TSX.V: PGE
FSE: 5D32
FSE
Group Ten Metals Closes $1.96 Million Private Placement Financings
February 27, 2017 – Vancouver, BC - Group Ten Metals Inc. (TSX.V: PGE; FSE: 5D3 2) (the “Company” or “Group
Ten”) announces that it has closed 100% of its two previously announced non-brokered private placements
resulting in total gross proceeds to the Company of $1.96 million through the issuance of 31 million units, of
which management and insiders account for over 13%.
Group Ten received a very positive response from investors to the financings, announced February 8, 2017 and
updated February 15. The Company will issue 26 million non-flow-through units at a price of $0.06 per unit for
total gross proceeds of $ 1.56 million. Each non -flow-through unit will consist of one common share of the
Company and one share purchase warrant. Each warrant shall entitle the holder to acquire one common share of
the Company at an exercise price of $0.12 per warrant share for a peri od of 36 months following the closing date
of the private placement.
Group Ten will also issue 5 million flow-through units at a price of $0.08 per unit for gross total proceeds of
$400,000. Each flow -through unit will consist of one flow -through common sh are of the Company and one -half
share purchase warrant. Each whole warrant will entitle the holder to acquire one common (non-flow-through)
share of the Company at an exercise price of $0.1 6 per warrant share for a period of 36 months following the
closing date of the private placement.
President and CEO Michael Rowley stated “We are very pleased with the strong interest we received with respect
to the financing and the number of quality investors demonstrating their belief in the Company and our high -
quality Canadian assets. We anticipate consistent news flow over the coming weeks and months as Group Ten
advances a number of corporate and project initiatives currently underway.”
In the event that the Company's common shares trade at a 20 -day volume weighted average trading price of
$0.18 (for warrants in non-flow-through units), or $0.24 (for warrants in flow-through units), or greater at any
time after four months and one day afte r the closing date, the Company may elect to accelerate the expiry date
of the warrants by giving notice to the holders thereof and in such case the warrants would expire 30 days after
the notice is given by the issuer.
The proceeds of the financing will be used on the Company's Yukon and Ontario projects and for general working
capital purposes. All securities issued pursuant to the placement will be subject to a hold period of four months
and one day from the date of closing. The financing is subject to regulatory approval.
The Company paid finder's fee totaling 432,780 non-flow-through units to three arm's length parties with respect
to certain orders provided in connection with the financings.
About Group Ten Metals Inc.
Group Ten Metals Inc. is a miner al exploration company focused on exploration for deposits of platinum group
metals (PGM), gold, nickel and copper. The Company controls a large land position in the Kluane Ultramafic Belt
in the southwest Yukon Territory, the Black Lake / Drayton gold pr oject in the Rainy River district in northwest
Ontario, and the Duke Island Cu-Ni-PGM project in Alaska.
On Behalf of the Board of Directors
GROUP TEN METALS INC.
“Michael Rowley”
Michael Rowley
President, CEO & Director
Neither 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.