Tectonic Gold Plc Drill Warrant Extension and Project Update

 
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                                             [phone] 
Brett Boynton 
Sam Quinn 
www.tectonicgold.com. 
@tectonic_gold 
 
Financial Adviser, Corporate Adviser                         [phone] 
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 
 
 

(END) Dow Jones Newswires

June 27, 2022 02:00 ET (06:00 GMT)