Tectonic Metals Inc. Announces the Appointment of New Chief Financial Officer
VANCOUVER, April 12, 2021 - Tectonic Metals Inc. (TECT: TSXV; TETOF: OTCQB; FSE: T15B) (the "Company" or "Tectonic") is pleased to announce the appointment of Paul Charlish as Chief Financial Officer ("CFO") and Corporate Secretary effective immediately. Mr. Charlish has over 30 years of finance experience, including audit and tax in public practice, as well as financial reporting and tax for public companies. Paul's proven leadership skills, accounting accumen, financial understanding and operational expertise are a valuable addition to Tectonic as the company continues to position itself for ongoing growth. Effective immediately, Paul will be responsible for Tectonic's accounting and finance operations, including financial reporting. Tony Reda, President & CEO of Tectonic, commented, "Paul is a highly seasoned finance professional who brings with him an impressive depth of experience in the junior mining space that will be vital in supporting Tectonic's growth and future success. On behalf of the Tectonic team, I am excited to welcome Paul to Tectonic and look forward to working closely with him as we continue to progress our gold exploration projects in Alaska."
Mr. Charlish replaces Krysta Chapman, who has served as Tectonic's CFO since October 2018. Tectonic thanks Ms. Chapman for her service and wishes her the very best in her future endeavours.
About Mr. Charlish
Mr. Charlish was previously the CFO and Corporate Secretary of Fission Uranium Corp. with over 30 years of finance experience, including audit and tax in public practice, and financial reporting and tax for public companies. Mr. Charlish specializes in the mining sector and is well versed in the requirements of complex regulatory environments. Mr. Charlish has extensive knowledge in the areas of financial reporting in accordance with IFRS, risk management, international tax, ICFR/SOX and internal controls, as well as experience in public equity offerings in Canada. During the course of his career, Mr. Charlish has also played an instrumental role in a number of mergers, acquisitions, spin outs and divestments for mining companies, including Fission Energy Corp., Fission Uranium Corp. and Fission 3.0 Corp.
Paul Charlish, CFO of Tectonic, commented, "I'm excited to be joining Tectonic as CFO. The company has a proactive approach to increasing shareholder value and is led by an experienced and highly focused management team. I look forward to contributing to Tectonic's continued gold exploration success."
Stock Option Grant
As part of his employment agreement (the "Agreement"), the Company granted Mr. Charlish 400,000 stock options (the "Options"). The Options shall have a exercise price set at a 35% premium to the share price on the date of the grant of the Options. The Options shall vest in four equal installments with 100,000 Options vesting on the first anniversary of the Agreement, and an additional 100,000 Options vesting on the three subsequent annivesary dates thereafter. The vesting and exercise of Options shall othewise be governed by the terms and conditions of Tectonic's stock option plan.
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.
On behalf of Tectonic Metals Inc.,
Tony Reda
President and Chief Executive Officer
For further information about Tectonic Metals Inc. or this news release, please visit our website at www.tectonicmetals.com or contact Tony Reda, President & CEO of Tectonic, or Bill Stormont, Investor Relations, at toll-free 1.888.685.8558 or by email at info@tectonicmetals.com.
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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.
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.
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SOURCE Tectonic Metals Inc.