Tectonic Metals Secures Over C$92 Million Through Private Placement

Tectonic Metals Inc. has successfully closed its upsized private placement, garnering gross proceeds of C$92,033,975. The offering included the full exercise of the agents' over-allotment option, demonstrating support from institutional investors for the company's Flat Gold Project in Alaska.

President and CEO Tony Reda emphasized the trust placed in Tectonic’s vision and the team’s commitment to advancing the project. Under the offering, 42,806,500 common shares were issued at C$2.15 each, with major participation from Crescat Portfolio Management LLC, the company’s largest shareholder.

The private placement was structured into brokered and non-brokered offerings, involving a syndicate led by 3L Capital Inc., BMO Capital Markets, and SCP Resource Finance LP. Proceeds will fund the Flat Project's development and other corporate needs.

Shares are subject to a hold period under Canadian securities laws until July 4, 2026. The transaction complies with MI 61-101, exempting Tectonic from certain regulatory requirements due to its market position.