Tectonic Gold Plc Exercise of warrants and issue of equity

 
TIDMTTAU 
 
24 March 2021 
 
                               TECTONIC GOLD PLC 
 
                      ("Tectonic Gold" or the "Company") 
 
                   Exercise of warrants and issue of equity 
 
As announced on 5 March 2021, Tectonic Gold plc (TDIM: TTAU) has received 
support from existing warrantholders to exercise the drill warrants issued in 
September 2020 to raise over £500,000 to fund further drilling by the 
Company.   The Company has received indications for the exercise of over 
90,000,000 warrants from the holders of the outstanding drill warrants. It is 
expected that these warrants will be exercised shortly, and the Company expects 
to be fully funded for the next drilling programme. 
 
A number of warrant holders have elected to exercise at 31 March 2021, ahead of 
the tax year end, with others indicating they will fund at the end of the call 
period, which is 5 April 2021. As part of this exercise, the Company has made 
an application to the Aquis Stock Exchange for the admission to trading on the 
Aquis Stock Exchange Growth Market ("Admission") of a further 22,836,361 new 
ordinary shares of £0.01 in the capital of the Company ("New Ordinary Shares"). 
 
The New Ordinary Shares are issued pursuant to the exercise of drill warrants 
to subscribe for new Ordinary Shares at a price of 0.7p per Ordinary Share, 
generating proceeds of £159,854.53 for the Company.  The New Ordinary Shares 
will rank pari passu in all respects with the Company's existing ordinary 
shares and Admission is expected to become effective on 29 March 2021. 
 
In accordance with the agreement reached with exercising warrantholders, the 
Company has issued 11,418,182 new warrants on a one-for-two basis whereby each 
warrantholder, has agreed to be subject to a lock-in until 22 February 2022 in 
regards to the Ordinary Shares resulting from the exercise of the drill 
warrants, and will therefore receive one new warrant to subscribe for a new 
Ordinary Share at 1.4p per share for every 2 existing drill warrants exercised. 
 The warrants will have an expiry date of 22 February 2022. 
 
Total Voting Rights 
 
Following Admission of the 22,836,361 New Ordinary Shares on 29 March 2021, the 
Company's enlarged issued share capital will comprise of 874,508,190 ordinary 
shares, each with voting rights. This figure may be used by shareholders as the 
denominator for the calculations by which they will determine if they are 
required to notify their interest in, or a change to their interest in, the 
Company, under the Disclosure and Transparency Rules. 
 
For further information, please contact: 
 
Tectonic Gold plc                                               [phone] 
Brett Boynton 
Sam Quinn 
www.tectonicgold.com 
@tectonic_gold 
 
Aquis Stock Exchange Corporate Adviser and 
Broker                                                         [phone] 
VSA Capital Limited 
Andrew Raca - Corporate Finance 
Andrew Monk - Corporate Broking 
 
 
                                     Ends 
 
 
 
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March 24, 2021 03:00 ET (07:00 GMT)