Tectonic Metals Stock Price, News & Analysis

Tectonic Metals Inc. (TSXV:TECT)(OTCQB:TETOF) has appointed Oliver Foeste, CPA, CA as the new Chief Financial Officer (CFO) and Corporate Secretary, effective immediately. Foeste, founder of Invictus Accounting Group LLP, possesses extensive finance and compliance experience in various sectors, including mining. He succeeds Xavier Wenzel and will oversee Tectonic's accounting and finance operations. In connection with this appointment, the company granted 400,000 stock options at an exercise price of $0.10 per share.

Tectonic Metals Inc. announced that at the Annual General and Special Meeting held on September 22, 2022, shareholders approved all items on the agenda. This includes the re-election of board members Antonio Reda, Curtis J. Freeman, Allison Rippin Armstrong, Joseph J. Perkins, and Michael W. Roper. Additionally, shareholders re-appointed Davidson & Company LLP as the company’s auditors and adopted a new Equity Incentive Plan. These steps are part of Tectonic's strategic initiatives to enhance governance and incentivize performance.

Tectonic Metals Inc. (TETOF) announced promising results from its 2022 Reverse Circulation drill program at the Seventymile Gold Project in Alaska. The program included nine holes totaling 1,412 meters, all intersecting gold mineralization. A notable highlight was a drill hole yielding 59.4 g/t Au over 1.53m. The program validated the company's exploration strategy, particularly within the Flume trend, which hosts multiple gold zones. This data will aid in refining future exploration efforts.

Tectonic Metals Inc. announced the initiation of a baseline metallurgical testwork program at its Flat Gold Project in Alaska. The program aims to assess the potential for free-milling gold mineralization in the Chicken Mountain Zone. Conducted by Base Metallurgical Laboratories, the tests will evaluate conventional extraction methods such as cyanide, flotation recovery, and gravity separation. Historical results suggest promising mineralization, with previous testing indicating an 82% gold extraction rate. This initiative aligns with Tectonic's strategy to 'de-risk' projects and enhance their economic viability.

Tectonic Metals Inc. has appointed Joseph J. Perkins as an independent director, enhancing its Board of Directors. With over 40 years of legal experience in Alaska's resource sector, Perkins has worked on major projects, including the Greens Creek and Red Dog mines. He appreciates Tectonic's vision and aims to create shareholder value. The Board's Chair, Allison Rippin Armstrong, highlighted Perkins' significant contribution potential. Additionally, Perkins received 500,000 stock options at an exercise price of $0.10, valid for five years.

Tectonic Metals Inc. (TSXV:TECT)(OTCQB:TETOF) has successfully closed the second tranche of its non-brokered private placement financing, issuing 7,183,339 units at C$0.06 each, raising C$431,000. Each unit consists of one common share and one-half share purchase warrant, with warrants exercisable at C$0.10. The proceeds will advance projects and support working capital. Additionally, Tectonic granted 3,050,000 stock options at $0.10 each, offering an incentive to directors and key consultants. All securities are subject to a four-month hold period.

Tectonic Metals Inc. (OTCQB: TETOF) has commenced drilling at its Seventymile Gold Project in Alaska, a vast underexplored greenstone belt. The program aims to examine two primary targets: the newly interpreted main gold-bearing shear zone and the historical shallowly dipping tension veins, which previously yielded results of up to 104.75 g/t Au. The 2022 drilling will focus on three key areas—Flanders, Flume, and Alder—known for their high-grade gold potential. President Tony Reda emphasizes the project's unique opportunity in a Tier 1 jurisdiction.

Tectonic Metals Inc. (TSXV:TECT; OTCQB:TETOF) has received a 30-day extension from the TSX Venture Exchange to complete its non-brokered private placement financing, now set to conclude on July 8, 2022. The offering, initially announced on April 25, 2022, aims to issue up to 50,000,000 units at a price of C$0.06 per unit, potentially raising C$3,000,000. The first tranche raised C$1,931,140 on May 30, 2022. Proceeds will finance the Tibbs and Seventymile properties and support general working capital.

Tectonic Metals Inc. (TETOF) has completed the first tranche of its non-brokered private placement financing, issuing 32,185,666 units at C$0.06 per unit, raising C$1,931,140. Each unit includes a common share and a half warrant, exercisable at C$0.10, expiring in two years. The company plans to use the proceeds for project advancement and general working capital. The offering involves related parties but is exempt from formal valuation requirements. The transaction is subject to TSXV approval and includes an acceleration clause for warrants if share prices exceed C$0.20 for 20 consecutive days.