Tectonic Metals Stock Price, News & Analysis

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.

Tectonic Metals Inc. (TSX-V:TECT; OTCQB:TETOF) announces a strategic investment from its largest shareholder, Doyon, Ltd., through a C$3,000,000 private placement led by Crescat Capital. This partnership reaffirms Doyon's commitment to Tectonic and highlights their shared values in mineral exploration. The funds will be utilized for two drilling programs, focusing on the Tibbs and Seventymile properties, along with the recently acquired Flat Project. The investment is also in line with Doyon's mission to enhance the economic and social well-being of its shareholders.

Tectonic Metals announced a strategic investment by Crescat Capital, totaling C$3,000,000 through a non-brokered private placement. The funding will support Tectonic's Tibbs and Seventymile properties while highlighting Crescat's commitment to the company's potential in mineral exploration. Each unit is priced at C$0.06, including common shares and warrants. The warrants can be exercised at C$0.10, with a two-year expiration. The offering is subject to TSXV conditions, emphasizing Tectonic's focus on advancing its gold projects in Alaska.

Tectonic Metals Inc. has appointed veteran geologist Peter Kleespies as Vice President of Exploration, effective immediately. With over 30 years of experience, Kleespies has a strong background in mineral exploration and resource delineation across multiple continents. He succeeds Eric Buitenhuis, who played a significant role in the company's growth. Tectonic granted Kleespies 300,000 stock options as part of his employment agreement, which will vest over three years.

Tectonic Metals has reported significant drill results from its 2021 Phase II campaign at the Tibbs Gold Project, near the Pogo Gold Mine. Key highlights include the discovery of low-angle quartz veins with Pogo-style gold mineralization, featuring intersections like 9.95 g/t Au over 0.75m and 7.64 g/t Au over 0.60m. Discoveries at Gray Lead West confirm the Pogo Exploration Model and showcase potential for further high-grade mineralization, with visible gold observed in multiple holes. The company plans additional drilling to define the extent of mineralization and explore further opportunities.