Tectonic Metals Announces Initial Public Trading Date Files Final Prospectus and Obtains Conditional Approval for Listing on the TSX-V
Tectonic Metals Announces Initial Public
Trading Date
Files Final Prospectus
and Obtains Conditional Approval for Listing on the TSX-V
/NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN
THE
UNITED STATES
/
VANCOUVER
,
Nov. 14, 2019
/CNW/ -
Tectonic Metals Inc. (TECT: TSX-V)
(the "Company" or
"Tectonic") today announced that the Company filed and obtained a receipt for its non-offering
prospectus with the British Columbia Securities Commission. Tectonic also announced that it
received conditional approval to list the Company's shares on the TSX Venture Exchange, and the
common shares are expected to begin trading on the TSX-V at the opening of the market on or
about
Monday, November 18, 2019
, under the ticker symbol "TECT".
Tectonic's President & CEO,
Tony Reda
, commented, "
The Tectonic team is ecstatic to achieve this
milestone. Our recent go-public financing allowed us to advance exploration activities at our three
properties, and through our direct listing, we are entering into the public markets in an efficient
manner that preserves value for our shareholders. We would also like to acknowledge and thank
our shareholders for their ongoing support and trust in our ability to execute. Our transition from a
privately held company to a publicly-traded company on the TSX-V represents the next chapter of
our growth, and we are excited about the opportunities ahead of us."
In connection with the Company's direct listing on the TSX-V, the Company raised
C$5,817,696
through the private placement of 16,621,988 special warrants. On
Tuesday, November 11, 2019
,
the special warrants were automatically exercised, and holders of the special warrants were issued
one common share of the Company, and one common share purchase warrant (each, a "Warrant")
for each special warrant held. Each Warrant entitles the holder thereof to acquire one common
share in the capital of the Company at an exercise price of
C$0.50
per Warrant share for a period of
24 months following the date of issuance, subject to adjustment in certain events.
The Company completed exploration programs on the Tibbs,
Northway
and Seventymile Projects in
Alaska
during the 2019 field season, and a corporate update will be provided once the results are
evaluated.
Investor Relations Required Information
Tectonic currently employs one individual and retains one company, who provide investor relations
services to the Company. On
October 29, 2018
, Tectonic entered into an employment agreement
with Poya Ezadpana pursuant to which Mr. Ezadpana provides investor relation services to Tectonic,
including the development and execution of the Company's corporate communications and investor
relations strategy, until such employment is ended. Mr. Ezadpana has worked in various business
development and investor relationship roles for a variety of entities over the past eight years. Mr.
Ezadpana is paid an annual salary of
C$115,000
per year in semi-monthly instalments. Mr.
Ezadpana currently holds 225,000 Restricted Shares and is entitled to receive Options under the
Company's Stock Option Plan, in accordance with its terms and at the discretion of the Board. On
July 9, 2019
, the Company engaged Renmark Financial Communications Inc. ("Renmark"), an
investor relations company with strong, ongoing, long-term relationships within the North American
financial community, to assist with initial investor relations activities, including general investor reach
out, roadshow management and the preparation and distribution of corporate information, prior to
and post-Listing. Tectonic is paying Renmark
C$7,000
per month until Renmark's engagement is
otherwise terminated by the Company or Renmark. Renmark does not have any interest, either
directly or indirectly, in Tectonic or its securities, or any right or intent to acquire such an interest.
About Tectonic
Tectonic Metals Inc. is a mineral exploration company created and operated by an experienced and
well-respected technical and financial team with a track record of wealth creation for shareholders.
Key members of the Tectonic team were involved with Kaminak Gold Corporation, the company that
raised
C$165 million
to fund the acquisition, discovery and advancement of the Coffee Gold Project
in the
Yukon Territory
through to the completion of a bankable feasibility study before selling the
multi-million ounce gold project to Goldcorp Inc. (now Newmont Goldcorp) for
C$520 million
in 2016.
Tectonic is focused on the acquisition, exploration, discovery and development of mineral resources
from district-scale projects in politically stable jurisdictions that have the potential to host world-class
orebodies.
Tectonic believes that responsible mineral exploration and development can positively impact the
communities in which the company lives and operates and is committed to early and ongoing
community engagement, best practices in environmental stewardship and the development of a
strong safety culture. Whether at home or at work, the Tectonic team is grounded on the following
core values: passion, integrity, patience, focus, perseverance, honesty, fairness, accountability,
respect and a play big mindset. The company works for its shareholders and is committed to
creating value for them.
This news release does not constitute an offer to sell, solicitation or offer to buy nor shall there be
any sale of any of the securities in any jurisdiction in which such offer, solicitation or sale would be
unlawful, including any of the securities in
the United States of America
. The securities have not
been and will not be registered under the United States Securities Act of 1933, as amended (the
"
1933 Act
") or any state securities laws and may not be offered or sold within
the United States
or
to, or for account or benefit of, U.S. Persons (as defined in Regulation S under the 1933 Act)
unless registered under the 1933 Act and applicable state securities laws, or an exemption from
such registration requirements is available
.
On behalf of Tectonic Metals Inc.,
Tony Reda
President and Chief Executive Officer
For further information, please contact:
Poya Ezadpana
Director of Investor Relations
Website:
www.tectonicmetals.com
Facebook:
https://www.facebook.com/TectonicMetals/
Twitter:
https://twitter.com/TectonicMetals
LinkedIn:
https://www.linkedin.com/company/tectonic-metals
Cautionary Note Regarding Forward-Looking Statements
Certain information in this news release constitutes forward-looking information and statements
under applicable securities law. Any statements that are contained in this news release that are not
statements of historical fact may be deemed to be forward-looking statements. Forward-looking
statements are often identified by terms such as "may", "should", "anticipate", "expect", "intend"
and similar expressions and include, but are not limited to, statements with respect to: the date on
which the Tectonic shares will trade on the TSX-V and future operations.
Forward-looking
information is not a guarantee of future performance and is based upon a number of estimates and
assumptions of management at the date the statements are made including, among others,
assumptions about future prices of gold and other metal prices, currency exchange rates and
interest rates, favourable operating conditions, political stability, obtaining governmental and other
approvals and financing on time, obtaining required licenses and permits, labour stability, stability
in market conditions, availability of equipment, accuracy of any mineral resources, successful
resolution of disputes and anticipated costs and expenditures. Many assumptions are based on
factors and events that are not within the control of Tectonic, and there is no assurance they will
prove to be correct.
Although Tectonic considers these beliefs and assumptions to be reasonable based on information
currently available to it, they may prove to be incorrect, and the forward-looking statements in this
release are subject to numerous risks, uncertainties and other factors that may cause future results
to differ materially from those expressed or implied in such forward-looking statements.
Forward-
looking statements necessarily involve known and unknown risks, including, without limitation: the
Company's ability to implement its business strategies; risks associated with mineral exploration
and production; risks associated with general economic conditions; adverse industry events;
marketing and transportation costs; loss of markets; volatility of commodity prices; inability to
access sufficient capital from internal and external sources, and/or inability to access sufficient
capital on favourable terms; industry and government regulation; changes in legislation, income
tax and regulatory matters; competition; currency and interest rate fluctuations; and other risks.
Readers are further cautioned not to place undue reliance on forward-looking statements as there
can be no assurance that the plans, intentions or expectations upon which they are placed will
occur. Such information, although considered reasonable by management at the time of
preparation, may prove to be incorrect and actual results may differ materially from those
anticipated. Forward-looking statements contained in this news release are expressly qualified by
this cautionary statement.
Although Tectonic has attempted to identify important factors that could
cause actual results to differ materially from those contained in forward-looking information, there
may be other factors that cause results not to be as anticipated, estimated or intended. There can
be no assurance that such information will prove to be accurate, as actual results and future events
could differ materially from those anticipated in such statements. Accordingly, readers should not
place undue reliance on forward-looking information. Tectonic does not undertake to update any
forward-looking information, except in accordance with applicable securities laws.
[Neither the TSX Venture Exchange nor it's Regulation Service Provider (as that term is
defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy
or accuracy of this release.]
SOURCE
Tectonic Metals Inc.
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CNW 09:00e 14-NOV-19