Group Ten Metals Announces Private Placements

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Group Ten Metals Announces Private Placements

VANCOUVER, BRITISH COLUMBIA--(Marketwired - Feb 8, 2017) - Group Ten Metals Inc. (TSX VENTURE:PGE)(FRANKFURT:5D32) (the "Company" or "Group Ten") announces that it has arranged two concurrent, non-brokered private placements to raise total gross proceeds of up to C$1.8 million by the issuance of up to 29 million units.

Group Ten will issue up to 26 million non-flow-through units at a price of $0.06 per unit for total gross proceeds of up to $1.56 million. Each non-flow-through unit shall consist of one common share of the Company and one share purchase warrant. Each warrant will entitle the holder to acquire one common share of the Company at an exercise price of $0.12 per warrant share for a period of 36 months following the closing date of the private placement.

Group Ten will also issue up to 3 million flow-through units at a price of $0.08 per unit for gross total proceeds of up to $240,000. Each flow-through unit shall consist of one flow-through common share of the Company and one-half share purchase warrant. Each whole warrant will entitle the holder to acquire one common share of the Company at an exercise price of $0.18 per warrant share for a period of 36 months following the closing date of the private placement.

In the event that the Company's common shares trade at or above 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), at any time after 4 months and one day after the closing date, the issuer 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 financings 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. Insiders will be participating in the placements. The financings are subject to regulatory approval.

On Behalf of the Board of Directors

GROUP TEN METALS INC.

Michael Rowley

President & 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.

THIS NEWS RELEASE, REQUIRED BY APPLICABLE CANADIAN LAWS, IS NOT FOR DISTRIBUTION TO U.S. NEWS SERVICES OR FOR DISSEMINATION IN THE UNITED STATES, AND DOES NOT CONSTITUTE AN OFFER OF THE SECURITIES DESCRIBED HEREIN. THESE SECURITIES HAVE NOT BEEN REGISTERED UNDER THE UNITED STATES SECURITIES ACT OF 1933, AS AMENDED, OR ANY STATE SECURITIES LAWS, AND MAY NOT BE OFFERED OR SOLD IN THE UNITED STATES OR TO U.S. PERSONS UNLESS REGISTERED OR EXEMPT THEREFROM.

Group Ten Metals Inc.
Michael Rowley
President & Director
[email protected]

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