Tectonic Gold Plc Exercise of warrants and issue of equity

 
TIDMTTAU 
 
9 April 2021 
 
                               TECTONIC GOLD PLC 
 
                      ("Tectonic Gold" or the "Company") 
 
                   Exercise of warrants and issue of equity 
 
Tectonic Gold plc (TDIM: TTAU), is pleased to announce that following the 5 
March 2021 call on warrant holders, warrants for a total of 90,568,178 new 
Ordinary Shares at a price of 0.7p have been exercised raising a total of £ 
633,977.25. 
 
In addition, the Company has partially exited its holding in VOX Royalty Corp, 
strategically monetising two thirds of its position, at over CAD3,10 per share. 
65,539 shares were sold generating proceeds of circa AUD215,000 to be applied 
to additional drilling. 
 
Highlights: 
 
  * 0.7p September 2020 "Drill Warrants" called on 5 March 2021 
  * Initial indicative demand of £500,000 significantly exceeded 
  * £633,977.25 in new capital raised 
  * 65,539 of the 98,039 share Vox Royalty holding sold (32,500 shares 
    retained) 
  * Technical program has resumed 
 
Mr. Brett Boynton, Managing Director - Tectonic Gold Plc 
 
"We are very encouraged by the exceptional level of support from our September 
2020 warrant holders. VSA structured a great deal for investors and the Company 
with this "drill warrant" and it has played out really well. Tectonic is now 
fully funded to complete the next phase of the technical program which will 
extend the drill testing along the mineralised strike at Specimen Hill with a 
particular focus on our Southern Copper discovery. 
 
We were also able to take advantage of a price movement in our Canadian listed 
"Vox Royalty Corp" holding to monetise a portion of that investment at a 
significant profit. The proceeds will be added to the Specimen Hill campaign 
war chest. Timing has been perfect on this as we are back in the field in about 
ten days. We have completed initial system modelling work with our independent 
expert consultants, and this has informed a structural mapping program to fill 
in some gaps so we can tighten drill targeting for the next round of drilling. 
It is going to be another busy quarter with plenty of news flow." 
 
As announced on 24 March 2021, , the Company had received exercise notices 
resulting in the issue of 22,836,361 new ordinary shares of £0.1 in the capital 
of the Company ("New Ordinary Shares") raising £159,854.53, in addition to the 
exercise of 1,818,181 drill warrants in January 2022, resulting in the issue of 
1,818,181 New Ordinary Shares, raising £12,727.27. 
 
The warrant exercise period for the exercise of the Company's remaining drill 
warrants has now closed with warrants exercised for a further 65,913,636 New 
Ordinary Shares. 
 
The New Ordinary Shares are issued pursuant to the exercise of 65,913,636 drill 
warrants, generating additional proceeds of £461,395.45 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 14 
April 2021. 
 
Agreement was reached with exercising warrant holders to be subject to a lock 
in until 28 February 2022 in return for receiving one new warrant to subscribe 
for a new Ordinary Share at 1.4p per share for every 2 existing drill warrants 
exercised. As a result the Company has issued 72,268,180 new warrants to 
subscribe for a new Ordinary Share at 1.4p with an expiry date of 28 February 
2022. 
 
In total therefore, over the course of the warrant exercise period, the Company 
received exercise notices from warrants exercisable at 0.7p, over 90,568,178 
new Ordinary Shares raising a total of £633,977.25 for the Company, 
significantly more than the £500,000 initially expected. The Company has also 
granted 83,686,362 new warrants, exercisable at 1.4p and expiring on 28 
February 2022. 
 
Total Voting Rights 
 
Following Admission of the 65,913,636 New Ordinary Shares on 14 April 2021, the 
Company's enlarged issued share capital will comprise of 940,421,826 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                                               +61 2 9241 7665 
Brett Boynton 
Sam Quinn 
www.tectonicgold.com 
@tectonic_gold 
 
Aquis Stock Exchange Corporate Adviser and 
Broker                                                         +44 20 3005 5004 
VSA Capital Limited 
Andrew Raca, Pascal Wiese - Corporate 
Finance 
Andrew Monk - Corporate Broking 
 
 
                                     Ends 
 
 
 
END
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April 09, 2021 02:00 ET (06:00 GMT)
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