Business
Tectonic Metals Announces Strategic Investment by Leading Alaskan Native Regional Corporation, Doyon, Ltd.
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About this update from Tectonic Metals, Inc.
[{"type":"text","content":"Tectonic Metals Announces Strategic Investment by Leading Alaskan Native Regional Corporation, Doyon, Ltd.NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATESVANCOUVER, BC / ACCESSWIRE / May 24, 2022 / Tectonic Metals Inc. (TSX-V:TECT; OTCQB:TETOF; FSE:T15B) (\"Tectonic\" or the \"Company\") is honoured and excited to announce that the Company's largest shareholder, Doyon, Ltd. (\"Doyon\"), a leading Alaska Native Regional Corporation and the largest private landholder in the State of Alaska, is reaffirming its landmark partnership with Tectonic through another strategic investment in the Company under the previously announced C$3,000,000 non-brokered private placement led by Crescat Capital LLC (\"Crescat\"), in association with renowned geologist, Dr. Quinton Hennigh (see Tectonic news release).Tony Reda, President & CEO of Tectonic, stated, \"Working on Native Owned Land is one thing, but being funded by Alaska Natives to explore on their land is something completely different. It is truly an honour, a privilege and a vote of confidence by our single largest shareholder, Doyon, one of Alaska's leading Native Regional Corporations, to entrust us with their capital to explore on their traditional territory and work alongside them. Our strong partnership with Doyon is a vital pillar of not only our exploration success in Alaska but also of our Company. In many ways, the same can be said about each and every shareholder and stakeholder in Tectonic as we are grateful, thankful and humbled by your continued support as we remain laser-focused on finding the next mine responsibly and ethically. To that point, the capital from this private placement will allow us to move that vision forward as we embark on two drill programs this year testing what we believe to be some of the best targets our team has generated in years and touching ground and exploring for the first time in over 20 years our newly acquired Flat Project, one of Alaska's best exploration opportunities.\"Aaron Schutt, President and Chief Executive Officer of Doyon, Limited, stated, \"2022 marks the 50th anniversary of the Alaska Native Claims Settlement Act and the formation of Doyon, Ltd. Since that day, our mission has been clear: continually enhance our position as a financially strong Native corporation in order to promote the...