Tectonic Metals Announces Results of Annual General Meeting and Retains Market-Making Services
VANCOUVER, May 22, 2020 - 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.
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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.