Investors, have a look at the Tecton Corporation (OTCBB: TTNC), a US-based exploration company focused on the acquisition and development of a portfolio of high-quality uranium properties in the USA and Canada. Tecton Corporation announced on Wednesday that it had entered into a twelve-month financing agreement with Swissalis Group AG of Zurich, Switzerland, a company that specializes in financing junior resource companies by way of private placement.
Tecton said the agreement calls for Swissalis to contribute $1,500,000 USD in financing to support Tecton's business plan, which 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."
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.
Shares of Tecton Corporation (OTCBB: TTNC | news | PowerRating | PR Charts ) closed Wednesday at $0.80.
Other stocks to watch:
Precious metals mining company GoldSpring, Inc. (OTCBB: GSPG | news | PowerRating | PR Charts ) recently announced positive third-party assay results for exploratory drill holes 2008-06 and 2008-07. GoldSpring said the drill holes were highlighted by gold assay grades exceeding 1.5 ounces per ton gold and 1.25 ounces per ton silver (Hole 2008-06 260'-265'), and are a continuation of the phase one drilling program located at the Hartford Complex in the Comstock Lode District of Nevada. GoldSpring's Chief Operating Officer, Jim Golden, stated, "The third-party assay results from exploratory holes 2008-06 and 2008-07 identify the highest grades of gold we have seen since beginning our drilling program at the Hartford Complex in December 2007."
GSPG closed Wednesday at $0.0168.
Genoil, Inc. (OTCBB: GNOLF), an Alberta, Canada based engineering technology development company, announced Wednesday that its Crystal Sea oily water separator has been awarded certification from the American Bureau of Shipping for bilge water treatment in ships. Genoil said the Crystal Sea is a state-of-the-art bilge water treatment system which has also successfully met or exceeded the highest guidelines and standards of the United States Coast Guard and the International Maritime Organization's Resolution MEPC 107 (49) for pollution prevention equipment for ship bilges.
GNOLF closed Wednesday at $0.48.
Fox Petroleum Inc. (OTCBB: FXPE | news | PowerRating | PR Charts ) announced on Tuesday that the Company had approved a 5 for 1 reverse stock split with a record date of April 16, 2008. Along with the reverse stock split, Fox Petroleum said it intends to implement a larger board of directors with a majority of independent directors. Fox Petroleum said the reverse split and increase to its board are intended to assist the Company in meeting the listing standards of the American Stock Exchange.
FXPE closed Wednesday at $0.88.
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