Tectonic Metals Appoints New CFO
VANCOUVER, B.C., August 4, 2021 – Tectonic Metals Inc. (TSX-V: TECT; OTCQB: TETOF; FSE: T15B) (the "Company" or "Tectonic") is pleased to announce the appointment of Mr. Xavier Wenzel as Chief Financial Officer ("CFO") and Corporate Secretary of the Company, effective immediately. Mr. Wenzel has over 25 years of finance and public accounting experience. As a principal at Fehr & Associates, a public accounting firm, and a member of The Chartered Professional Accountants of British Columbia, Mr. Wenzel has considerable audit and tax expertise, as well as extensive experience with financial and regulatory reporting for public companies. He has held CFO and other senior management roles with a number of public companies, particularly in the mining and resource sector, and has extensive experience with US GAAP. Effective immediately, Mr. Wenzel will be responsible for Tectonic's accounting and finance operations, including financial reporting.
Tony Reda, President & Chief Executive Officer of Tectonic, commented, "Mr. Wenzel’s accounting acumen, financial understanding and operational expertise are a valuable addition to Tectonic. On behalf of the Tectonic team, I am pleased to welcome Xavier to Tectonic as the Company positions itself for ongoing growth."
Mr. Wenzel replaces Mr. Paul Charlish as Chief Financial Officer and Corporate Secretary, who served in those roles since April 2021. Tectonic thanks Mr. Charlish for his service and wishes him the best in his future endeavours.
Stock Option Grant
The Company granted 400,000 stock options (the "Options") in connection with the appointment of the CFO. The Options shall have an exercise price set at a 35% premium to the closing price of the Company’s common shares on the TSX Venture Exchange on the date of the grant of the Options. The Options shall vest in four equal annual installments. The vesting and exercise of Options shall otherwise be governed by the terms and conditions of Tectonic's stock option plan.
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.,
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 Bill Stormont, Investor Relations, at toll-free 1.888.685.8558 or by email at firstname.lastname@example.org.
Neither the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.