VANCOUVER, May 22, 2020 /CNW/ - Tectonic Metals Inc
(TECT: TSX-V) ("Tectonic" or the "Company") is pleased to
announce that Tectonic shareholders approved all matters voted on
at the Annual General Meeting of Shareholders ("AGM") held on
Thursday, May 21, 2020, by video
conference call, including:
- The number of directors being set at five
- The re-election of Antonio Reda,
Curt Freeman, Allison Rippin Armstrong, Mel Benson and Michael
Roper to the Tectonic Board of Directors
- The re-appointment of Davidson & Company LLP as auditors of
the Company
- Approval of the Company's existing stock option plan
Market-Making Services
Tectonic also announces that the Company has, subject to
regulatory approval, retained Venture Liquidity Providers Inc.
("VLP") to initiate its market-making service to assist in
maintaining an orderly trading market for the common shares of the
Company.
The market-making service will be undertaken by VLP through a
registered broker, W.D. Latimer Co. Ltd., in compliance with the
applicable policies of the TSX Venture Exchange (the "TSXV")
and other applicable laws. For its services, the corporation has
agreed to pay VLP $5,000 per month
for a period of 12 months. The agreement may be terminated at any
time by Tectonic or VLP. The Company and VLP act at arm's length,
and VLP has no present interest, directly or indirectly, in the
Company or its securities, or any right or intent to acquire such
an interest. The finances and the shares required for the
market-making service are provided by W.D. Latimer. The fee paid by
the Company to VLP is for services only.
VLP is a specialized consulting firm based in Toronto, providing a variety of services
focused on TSXV listed issuers.
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.
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.
On behalf of Tectonic Metals Inc.,
Tony Reda
President
and Chief Executive Officer of Tectonic Metals Inc.
For further information about Tectonic Metals Inc. or this news
release, please visit Tectonic's website at
www.tectonicmetals.com or contact Tony
Reda, President & CEO of Tectonic, at toll-free
1-888-858-9887 or by email at info@tectonicmetals.com.
Follow Tectonic Metals on LinkedIn, Facebook, Twitter and
Instagram
Neither the 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.
SOURCE Tectonic Metals Inc.
