Tecton Corporation (OTCBB:TTNC) is pleased to announce it has entered into a twelve-month financing agreement with Swissalis Group AG of Zurich, Switzerland.
Tecton is a US-based exploration company focused on the acquisition and development of a portfolio of high-quality uranium properties in the USA and Canada, while Swissalis is a company that specializes in financing junior resource companies by way of private placement.
The agreement between Tecton and Swissalis calls for Swissalis to contribute $1,500,000 USD in financing to support Tecton's business plan. Tecton's business plan is currently centered on advancing two important uranium projects: the Firefly project in south central Utah and the Wapata Lake project in the prolific Athabasca region of Saskatchewan, Canada.
Norman Meier, Tecton's President and Chief Executive Officer, stated, "We believe Tecton will benefit greatly through this partnership as a result of Swissalis' extensive network of private and institutional investors in the European market. This Tecton financing illustrates the continued confidence of Swissalis in Tecton's ability to execute its business plan.
About Tecton Corporation
Tecton Corporation is a uranium exploration company trading on the OTCBB under the symbol TTNC. Tecton has a Swiss and North American management team focused on the acquisition and development of high-quality uranium properties. Tecton's corporate strategy is to acquire advanced-stage uranium properties that are either past producers, have been the subject of prior work programs, and/or contain historic resources. Additionally, Tecton intends to acquire selective early-stage properties should they possess significant geologic merit.
Tecton's corporate offices are located in Zurich, Switzerland. Mineralogics, of Tucson, Arizona, manages Tecton's geological duties. North American corporate communications representatives are located in California, USA.
The statements contained herein which are not historical are forward- looking statements that are subject to risks and uncertainties that could cause actual results to differ materially from those expressed in the forward- looking statements, including, but not limited to, certain delays beyond the company's control with respect to commencement of drilling operations, concentration in mineral deposits, delays in testing and evaluation of ore samples, and other risks detailed from time to time in the Company's filings with the Securities and Exchange Commission.
