Tectonic Metals Inc. is looking to raise C$5 million via a special warrant financing and pursuing a direct listing on the TSX Venture Exchange. Tectonic was founded nearly two years ago by Eira Thomas, Tony Reda and Rob Carpenter who were executive members of Kaminak, the company that raised C$165 million to fund the acquisition, discovery and advancement of the Coffee gold project through to the completion of a bankable feasibility study before selling the multimillion-ounce gold project to Goldcorp Inc. for C$520 million in 2016. These executives joined forces with Curt Freeman, president of Avalon Development Corp., a mineral exploration consulting firm based in Alaska, to form the new junior mining exploration company.
Tectonic’s president and CEO, Reda, said, “It was clear from day one that Eira, Rob, Curt and I shared a passion for mineral exploration and discovery and the desire to bring something different to the mineral industry. Tectonic was the answer. Behind every successful company is a great team, and I am blessed to be working with such esteemed professionals dedicated and committed to working for our shareholders and making Tectonic a success.”
Reda said the vision is to be the No. 1 mineral exploration company.
Thomas said, “Tectonic brings together a strong, experienced team and top-tier assets in highly rated, underexplored, first-world jurisdictions. We have engaged early and developed key relationships with all of our stakeholders and first nations partners with a commitment to maximizing value for the communities in which we live and work.
Thomas said the funds will be used to advance four high-potential gold projects, where up to three projects will be drill tested this year.
Tectonic has entered into an agreement with Canaccord Genuity Corp., as lead agent, to sell special warrants of the company.