19:22:25 EDT Wed 24 Apr 2024
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Group Ten Metals 15,247,058-share private placement

2019-12-03 17:32 ET - Private Placement

The TSX Venture Exchange has accepted for filing documentation with respect to a non-brokered private placement announced Nov. 11, 2019.

Flow-through (FT) shares

Number of FT shares:  7,997,058 flow-through shares

Purchase price:  17 cents per flow-through share

Warrants:  3,998,529 share purchase warrants to purchase 3,998,529 shares

Warrant initial exercise price:  25 cents

Warrant term to expiry:  three years

Non-flow-through (NFT) shares

Number of NFT shares:  7.25 million non-flow-through shares

Purchase price:  15 cents per non-flow-through share

Warrants:  3,625,000 share purchase warrants to purchase 3,625,000 shares

Warrant initial exercise price:  25 cents

Warrant term to expiry:  three years

Number of placees:  25 placees

Total pro group involvement:  100,000 (one placee)

Finders' fees:  Red Cloud Klondike Strike, 46,806 shares and 23,403 warrants; PI Financial Corp., 71,400 shares and 35,700 warrants; Mackie Research Capital, 466,853 shares and 233,426 warrants; Leede Jones Gable, 70,000 shares and 35,000 warrants; Blue Lake Advisors S.A., 70,000 shares and 35,000 finder warrants

Finder's warrant initial exercise price:  25 cents

Finder's warrant term to expiry:  three years

Note that in certain circumstances the exchange may later extend the expiry date of the warrants, if they are less than the maximum permitted term.

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