Tactical Resources Intends to Amend Certain Consulting Agreements
VANCOUVER, British Columbia, Oct. 29, 2024 (GLOBE NEWSWIRE) -- Tactical Resources Corp. (TSXV:RARE) (OTC:USREF) ("Tactical Resources" or the "Company"), a mineral exploration and development company, announced today that it intends to make amendments to agreements with certain consultants of the Company.
The Company previously entered into consulting agreements (the "Consulting Agreements") with certain of its consultants, including its Chief Executive Officer and Chief Financial Officer, which would become effective following the closing of a transaction that results in the Company being listed on the New York Stock Exchange or the Nasdaq Stock Market (a "Listing Transaction"). The Company's previously announced business combination (the "Business Combination") with Plum Acquisition Corp. III ("Plum") is expected to constitute a Listing Transaction. The Consulting Agreements currently provide for the payment of bonuses based upon the achievement of certain milestones, including the closing of a Listing Transaction. The Company and the respective consultants are currently in negotiations regarding the restructuring of the bonuses payable under the Consulting Agreements with a view to reducing the total bonuses payable. The Company anticipates that the current bonus structure in each of the Consulting Agreements will be replaced prior to closing of the Business Combination with a revised bonus payment that is payable following the initial filing with the U.S. Securities and Exchange Commission of an F-4 registration statement (the "Registration Statement"), which reduced bonus payment would be settled prior to closing of the Business Combination by the issuance of common shares of the Company (the "Shares"). Issuance of the Shares will be subject to the approval of the TSX Venture Exchange. It is anticipated that the Shares would be subject to forfeiture in the event that the Business Combination is not completed.
About Tactical Resources Corp.Tactical Resources is a mineral exploration and development company focused on U.S.-made rare earth elements used in semiconductors, electric vehicles, advanced robotics, and most importantly, national defense. The Company is also actively involved in the development of innovative metallurgical processing techniques to further unlock REEs development potential.
Ranjeet Sundher, Chief Executive OfficerTel: +1-778-588-5483
For additional information, please visit www.tacticalresources.com.
About Plum Acquisition Corp. III and Plum PartnersPlum Acquisition Corp. III is a special purpose acquisition company formed for the purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses.
Plum Partners seeks to establish itself as the first-stop SPAC platform for high-quality companies, and the management team's decades of operational experience leading technology companies, and the proprietary Accelerating Through the Bell operational playbook that helps companies list and grow in the public markets.
For additional information, please visit https://plumpartners.com/.
The TSX Venture Exchange Inc. has in no way passed upon the merits of the proposed Business Combination and has neither approved nor disapproved the contents of this press release. Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
CONTACT INFORMATION
Tactical Resources Corp.Ranjeet Sundher, Chief Executive OfficerTel:
Media Inquiries
FORWARD LOOKING STATEMENTS
Certain statements included in this press release are not historical facts but are forward-looking statements for purposes of the safe harbor provisions under the United States Private Securities Litigation Reform Act of 1995. All statements other than statements of historical facts contained in this press release are forward-looking statements. Any statements that refer to projections, forecasts or other characterizations of future events or circumstances, including any underlying assumptions, are also forward-looking statements. In some cases, you can identify forward-looking statements by words such as "estimate," "plan," "project," "forecast," "intend," "expect," "anticipate," "believe," "seek," "strategy," "future," "opportunity," "may," "target," "should," "will," "would," "will be," "will continue," "will likely result," "preliminary," or similar expressions that predict or indicate future events or trends or that are not statements of historical matters, but the absence of these words does not mean that a statement is not forward-looking. Forward-looking statements include, without limitation, Plum's, Tactical Resources', or their respective management teams' expectations concerning the outlook for their or Tactical Resources' business, productivity, plans, and goals for future operational improvements and capital investments, operational performance, future market conditions, or economic performance and ...
