Tearlach lays out Q1 2023 plan in holder letter

Dec 30, 2022

2022-12-30 09:05 ET – Shareholders Letter

Mr. Morgan Lekstrom reports

TEARLACH FIRST ANNUAL CATALYSTS FOR GROWTH AND SHAREHOLDER LETTER

Tearlach Resources Ltd. has provided its significant growth strategy for Q1 of 2023 and a recap of the company’s progress in 2022.

Dear shareholders,

This has been a very exciting and transformative year for Tearlach given the expedited nature of advancing Tearlach into a lithium-focused company.

Two thousand twenty-two was a difficult year for explorers in the commodities space, but Tearlach was a shining beacon as our stock saw an over 800-per-cent increase and became the second fastest-growing stock on the TSX Venture Exchange. We saw considerable shareholder value appreciation and noted what we believe is the start of substantial growth for the company. While the markets were dealing with a decline in sentiment from COVID restrictions to the crypto crash, we were planning what you are here to read, “How is Tearlach going to become a significant leader in the lithium space?” Let us begin with our corporate strategy and our view for short and long-term growth. We believe that this is the time to build through acquisition, exploration and outside-the-box ideas (more in the new year). We are fostering strong relationships, acquiring high-potential company-building lithium projects and planning high-impact execution in the new year.

Significant highlights from the last four months

Key board members:

Lindsay Bottomer — responsible for multiple geological discoveries;
Paul Chow — co-founder and former chief executive officer of Rock Tech Lithium — capital markets expert;
Addition of new CEO, Morgan Lekstrom, with a mine building and capital markets background, an outside-the-box thinker with a goal toward bringing the company to a billion-dollar capitalization.

Strong balance sheet:

Successful closing of a $7,585,000 financing, of which over $4-million, or 8.1 million shares, are on an extended eight-month hold. This extended hold period is evidence of our shareholders’ belief in the long-term success model we have for Tearlach’s growth.

Strategic acquisitions:

Acquisition of the Wesley, Hearth and Ferland station lithium projects, all on a geological lithium-bearing trend in Ontario around Green Technology Metals Root Lake and Seymour Lake deposits;
Acquisition of the Final Frontier lithium project contiguous to Frontier Lithium’s resources in Northwestern Ontario made up of the Pakwan and Margo Lake claims.

Catalysts for growth — Q1 2023:

Utilizing our highly experienced team and unique acquisition pipeline to acquire highly prospective properties in Canada and other jurisdictions;
Significant management additions, including a vice-president of exploration;
On-the-ground execution of projects, including accelerating to drilling;
Results from our fall 2022 exploration programs;
Fostering strategic partnerships;
Establishing an advisory board.

CEO Mr. Lekstrom stated: “Two thousand twenty-three is poised to be a significant growth year for us as we advance the corporate goal of being the leading lithium company in North America. Through boots-on-the-ground exploration, drilling, further acquisitions and outside-the-box ideas, we look forward to bringing you a robust growth platform with catalysts continuing throughout 2023.”

On behalf of the Tearlach board and management team, we thank you for your continued support and wish you all a very happy, healthy and prosperous new year. We look forward to an exciting and high-paced 2023.

Sincerely,

Morgan Lekstrom

Chief executive officer and director

The company has engaged LFG Equities Corp. to provide content creation and distribution to social media channels. The term of the agreement is for six months. Pursuant to the agreement, the company will compensate LFG a total fee of $100,000. At the time of this announcement, LFG directors have an equity interest in the company.

About Tearlach Resources Ltd.

Tearlach is a Canadian-based emerging resource company. Tearlach has signed one purchase agreement and three option agreements on four lithium projects in Northwestern Ontario. The Final Frontier project includes the Margot and Pakwan lithium claim blocks and is located adjacent to Frontier Lithium’s Electric Avenue, which hosts the Pak and Spark deposits.

We seek Safe Harbor.

https://tearlach.ca/