Tectonic Gold Plc Drill Warrant Extension and Project Update
June 27 2022 - 2:00AM
UK Regulatory
TIDMTTAU
27 June 2022
TECTONIC GOLD PLC
("Tectonic Gold" or the "Company")
Drill warrant extension AND PROJECT UPDATE
Tectonic Gold plc (TDIM: TTAU), is pleased to announce that progress is being
made towards remobilising the ground crew to complete the drilling campaign at
Specimen Hill. Work has begun to clear tracks in preparation for remobilising
heavy equipment at site and to complete diamond coring below the historic high
grade mine at Goldsmith's Reef.
Subscribers under the September 2020 fundraising received a warrant on a
one-for-one basis whereby each warrant entitled the holder to subscribe for a
new Ordinary share at 1.4p per share at any time prior to the expiry of 30 days
after the Company publishes the results of its drilling programme (the "Drill
Warrants"). These warrants were due to expire 1 July 2022 but to avoid 1.4p
warrant holders being prejudiced by project delays, the Company has decided to
extend the warrant exercise date to 30 November 2022. It is anticipated this
will provide sufficient time to have the drilling completed and assays
processed for reporting.
The Company is fully funded to return to the field and complete the final
drilling, so there is no immediate need for the £1.17 million in warrant
funding.
There are no other changes to the terms of the Warrants.
The Directors of the Company accept responsibility for the contents of this
announcement.
For further information, please contact:
Tectonic Gold plc +61 2 9241 7665
Brett Boynton
Sam Quinn
www.tectonicgold.com.
@tectonic_gold
Financial Adviser, Corporate Adviser +44 20 3005 5000
and Broker
VSA Capital Limited
Andrew Raca - Corporate Finance
Andrew Monk - Corporate Broking
The information contained within this announcement is deemed by the Company to
constitute inside information as stipulated under the Market Abuse Regulations
(EU) No. 596/2014. Upon the publication of this announcement via a Regulatory
Information Service, this inside information is now considered to be in the
public domain.
END
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June 27, 2022 02:00 ET (06:00 GMT)
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