Implementation of U.S. Defense Production Act propels strategic planning
VANCOUVER, BC (April 07, 2022) —Tactical Resources Corp. (CSE: RARE) (“Tactical Resources” or the “Company”), a mineral exploration and development company focused on the rare earth elements (REE) that drive the green technologies of the future, is pleased to report on recent favourable industry sector actions on the part of the U.S. government aimed at increasing support for the domestic production of critical minerals.
As reported during the last week of March, the Biden administration invoked the Defense Production Act to provide support for the mining, processing, and recycling of critical materials, such as lithium, nickel, cobalt, graphite and manganese amongst others (source: nytimes.com).
Except for a handful of mines and facilities, rare earth minerals (REE) and related critical minerals are almost exclusively produced outside the United States. The Washington post wrote that President Biden noted, “We need to end our long-term reliance on China and other countries for inputs that will power the future.” The Defense Production Act is a Cold War-era statute that enables the president with access to funding and other enhanced powers to support the domestic industrial base and ensure the private sector has the resources available to defend national security and confront emergencies.
Company CEO, Ranjeet Sundher, advises, “We predicated our entry into the REE sector based on key metrics that anticipated global supply chain pressure and countervailing reaction to Chinese resource monopolization. What we never anticipated was the outbreak of hostilities in Europe. Today we are experiencing what appears to be a further shift in demand for domestic production of these important resources. We have previously made some strategically important mineral property asset acquisitions that we believe provides strong positioning for future growth. Now, we aim to execute our strategy through the tactical advancement of our project portfolio.”
In related news, the Tactical Resources team are pleased to announce the appointment of Mr. Steve Vanry as an advisor to the board of directors.
Mr. Vanry is Chartered Financial Analyst (CFA) and Chartered Investment Manager (CIM) who brings over 25-years of professional experience in senior management positions with public and private companies, providing expertise in capital markets, strategic planning, corporate finance, mergers and acquisitions, regulatory compliance, accounting, and financial reporting. He is well regarded for his leadership, creativity, and ability to foster collaborative environments for team driven projects. His breadth of experience spans various industries, including mining, oil and gas, renewable energy, high-technology, and manufacturing.
“We are at a critical juncture in the growth of our venture and we believe Steve’s expertise will be a significant asset to the governance and oversight needs we predict are required to manage the myriad of moving elements ahead of us,” notes CEO Sundher. “Solid financial planning backed by a keen eye for investment opportunity is a welcome asset for any venture, and we are delighted by his participation and collaboration as we continue to strive to grow the business and shareholder value in this increasingly important industry segment.”
On Behalf of The Board of Directors,
Chief Executive Officer & Director
Tactical Resources Corp.
About Tactical Resources Corp. (CSE: RARE)
Tactical Resources is a mineral exploration and development company focused on rare earth elements (REE) 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.
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 ability to unlock the value of the investment potential of the REE sector, increased demand for domestically produced REEs, the growth potential of the Company, and the anticipated benefits of Mr. Vanry’s appointment as an advisor to the board of directors.
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 long form prospectus dated February 28, 2022, 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.
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Tactical Resources Corp.
Telephone: +1 (778) 588-5483
Matt Chatterton, Director
Tel: +1 (778) 613-2068