VANCOUVER, British Columbia, March 16, 2022 (GLOBE NEWSWIRE) -- Tactical Resources Corp. (CSE: RARE) (“Tactical Resources” or the “Company”), an exploration & development company focused on the rare earth elements that drive the green technologies of the future is pleased provide the following message from the Company CEO & Director, Mr. Ranjeet Sundher. Additional information is now available on the Company website at www.tacticalresources.com.
Dear shareholders, friends, and associates,
We are pleased today to provide an update, along with key industry news and exciting details regarding our ongoing strategic plans and upcoming activities. We hope you find this letter informative and invite your comments and feedback.
Public Market Listing
First and foremost, we’d like to express on behalf of the executives and directors of Tactical Resources our shared excitement to announce that our common shares commenced trading on the Canadian Securities Exchange on March 14, 2022, under the trading symbol “RARE”.
Welcome to the start of Tactical Resources’ public markets venture. We have closed a $5.7M capital raise and thank the team at Cassels Brock & Blackwell LLP, one of the strongest mining-focused legal teams in Canada, for their diligent assistance, and of course the geologists, exploration teams, and technical engineers in both Canada and the USA who have been instrumental in identifying and assembling the Company’s current asset portfolio.
The commencement of trading ushers in the next step for Tactical Resources’ anticipated growth based on the targeted development of projects within the exciting rare-earth elements (“REE”) mineral sector. With access to the public markets, Tactical Resources aims to communicate with an audience who understands the importance of critical resource mining, and which may offer the potential to support the growth of the Company through directed investment.
Tactical Resources is committed to becoming one of the premier REE exploration, development, and processing companies in North America. We will do this by focusing on domestic assets and by leveraging concurrent processing technologies developed specifically for these target elements. Please read on to learn more about the sector and opportunity, what we are doing and where we are going.
The Relentless Need for REE
Both the Canadian and American governments, alongside recognized industry economists, state that REEs are a critical resource, and that establishing sustainable domestic supply is vital to securing North America’s strategic future. The versatility and specificity of REEs gives them a level of technological, environmental, and economic importance magnitudes greater than might be expected from their relative obscurity.
Made up of 17 (15 REE plus scandium and yttrium) nearly indistinguishable lustrous silvery-white soft heavy metals, they are fundamentally needed in advanced military and vital defense applications, as well as next-gen technologies including high-performance magnets, alloys, glasses, electronics, and low-carbon technologies such as the electric motors of generators in wind turbines as well as hybrid and electric vehicles. The metals are also used diversely in hard disc drives, portable electronics, alloy manufacturing and the production of fuel cells and nickel-metal hydride batteries as well as the production of LCD and plasma screens, fiber optics, lasers, medical imaging, fertilizers and in water treatment.
Geopolitics Drives Demand
Most REEs are processed in China, where production of up to 80% of global REE impacts North America through consequent over-reliance on the Chinese supply chain.
China has already demonstrated its willingness to utilize geopolitical influence as highlighted by Beijing’s move in 2010 to cut off exports of REEs to Japan, prompting a World Trade Organization dispute.
The USA formalized REEs as a critical North American resource with US Executive Order 13953, declaring reliance on Chinese critical mineral export a national emergency. The order also authorized the Defense Production Act to streamline the construction of domestic mines while prioritizing the expansion and protection of minerals in secured supply chains.
In February 2021, President Biden signed an executive order to secure the domestic supply chain for REEs, thereby spurring the development of environmentally sustainable and economically viable processing technologies specifically to address the domestic shortfall.
In January 2022, the US Senate, in a bi-partisan move, introduced legislation forcing defense contractors to stop buying REEs from China by 2026. These factors have boosted mineral values and advanced processing technology development to the point that a domestic industry has grown from near insignificance to become a growth sector within a few short years.
Tactical Resources REE Asset Portfolio
Tactical Resources set out to identify prospective opportunities and very quickly identified both a traditional exploration opportunity in Canada as well as a unique advanced stage offtake business venture in Texas, USA.
In Canada, our REE property location encompasses a twenty-three-claim area of roughly 1,250 hectares in mining-friendly central Quebec called Lac Ducharme. Early work on the Lac Ducharme property showed light REE enriched pegmatites with multiple surface samples returning elevated REE values. The project offers opportunities for expansion of known REE mineralization hosted in pegmatites as well as new discoveries.
In the USA, our Peak Project is located in Texas just two miles from USA Rare Earth’s/Texas Mineral Resource Corp.’s “Round Top Project” and is hosted within the same prolific Sierra Blanca geological complex (Round Top reached a public markets valuation of over $1.4B in February 2021). The Peak project offers ready access to tailings material from a permitted and operating quarry. This project encompasses the unique opportunity of a potential fast-tracked pathway to production once permitted for processing, as the quarry is already performing a number of the fundamental unit operations needed for project development including mining, hauling, crushing, and screening.
In Conclusion
The issue of domestic REE supply must be urgently addressed for North America to successfully compete in the new global reality. At present, an operating and fully integrated REE producer does not exist in North America, and the industry faces uncertain forces from foreign markets.
Tactical Resources has assembled a highly motivated team that understands the value and importance of REEs. Through an aggressive strategy of accelerated planning and execution, Tactical aims to seek out and develop prospective assets that meet its key criteria of quality, accessibility, and ability for near term development. With this in mind, and through our capital market access, Tactical intends to advance and unlock the value of this increasingly in-demand mineral asset class for the benefit of all our stakeholders, partners, and shareholders alike.
We value your interest and continued support in our efforts to create a successful, sustainable, and responsible next generation mining venture. Thank you for your time in reading this message and we look forward to sharing with you our future updates as milestones are met and discoveries occur.
Stock Option Grant
In connection with the Company’s listing on the Canadian Securities Exchange, management has adopted a rolling 10% stock option plan (the “Plan”) in order to enable officers, directors, employees and consultants of the Company to participate in the growth of the Company and thereby provide effective incentives for such individuals. On March 15, 2022, the Company granted a total of 1,900,000 incentive stock options (“Options”) to certain officers, directors and consultants of the Company in accordance with the Plan. The Options vest immediately and are exercisable at a price of $1.04 for a period of twenty-four months.
On Behalf of The Board of Directors,
Sincerely,
~Ranjeet Sundher~
Ranjeet Sundher
Chief Executive Officer & Director
Tactical Resources Corp.
www.tacticalresources.com
About Tactical Resources Corp. (CSE: RARE)
Tactical Resources is a Rare Earth Elements (REE) exploration and development company based in Vancouver, British Columbia, which holds interests on the Lac Ducharme property located in Quebec, the SAM property in Northern Saskatchewan, and the Peak Project in Texas. The Company is also actively involved in the development of innovative metallurgical processing techniques to further unlock REE development potential. Find out more at: www.tacticalresources.com and follow us on Twitter.
The Company’s final prospectus, financial statements and management's discussion and analysis, among other documents, are all available on its profile page on SEDAR at www.sedar.com.
Anna Hicken, P.Geo., of Geomax Consulting, and consultant to Tactical Resources is the Qualified Person as defined in NI 43-101, who has reviewed and approved the scientific and technical content of the press release.
Forward Looking Information Disclaimer
This news release contains statements and information that, to the extent that they are not historical fact, may constitute “forward-looking information” within the meaning of applicable securities legislation. Forward-looking information may include financial and other projections, as well as statements regarding future plans, objectives, or economic performance, or the assumption underlying any of the foregoing. In some cases, forward-looking statements can be identified by terms such as “may”, “would”, “could”, “will”, “likely”, “except”, “anticipate”, “believe”, “intend”, “plan”, “forecast”, “project”, “estimate”, “outlook”, or the negative thereof or other similar expressions concerning matters that are not historical facts. Examples of such statements include, but are not limited to, statements with respect to information regarding the Company’s plans for the acquisition, exploration or development of minerals claims prospective for REEs; the Company’s anticipated growth based on the targeted development of projects within the REE mineral sector; and the impact of pro-REE development policies in North America.
Forward-looking information is based on the assumptions, estimates, analysis, and opinions of management made in light of its experience and its perception of trends, current conditions and expected developments, as well as other factors that management believes to be relevant and reasonable in the circumstances at the date that such statements are made, but which may prove to be incorrect. The material factors and assumptions used to develop the forward-looking information contained in this news release include, but are not limited to, key personnel and qualified employees continuing their involvement with the Company; the Company’s ability to secure additional financing on reasonable terms; the competitive conditions of the sector in which the Company operates; and laws and any amendments thereto applicable to the Company.
Forward-looking information involves known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of the Company to differ materially from any future results, performance or achievements expressed or implied by the forward-looking information, including, without limitation, risks relating to the future business plans of the Company; risks that the Company will not be able to retain its key personnel; risks that the Company will not be able to secure financing on reasonable terms or at all, as well as all of the other risks as described in the Company’s preliminary prospectus dated February 3, 2022 and all subsequent accepted versions thereof, under the heading “Risks Factors.” Accordingly, readers should not place undue reliance on any such forward-looking information. Further, any forward-looking information speaks only as of the date on which such statement is made. New factors emerge from time to time, and it is not possible for the Company’s management to predict all such factors and to assess in advance the impact of each such factor on the Company’s business or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in any forward-looking information. The Company does not undertake any obligation to update any forward-looking information to reflect information or events after the date on which it is made or to reflect the occurrence of unanticipated events, except as required by law, including securities laws.
The CSE has neither approved nor disapproved the contents of this news release. Neither the CSE nor its Market Regulator (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.
CONTACT INFORMATION
Tactical Resources Corp.
Investor Relations
Email: investors@tacticalresources.com
Telephone: +1 (778) 588-5483
Matt Chatterton, Director
Tel: +1 (778) 613-2068
Email: info@tacticalresources.com
Media Inquiries
media@tacticalresources.com
