Business
Tectonic Announces Strategic Investment by Crescat Capital as Part of a C$2 Million Non-Brokered Private Placement
NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES ...
About this update from Tectonic Metals, Inc.
[{"type":"text","content":"Tectonic Announces Strategic Investment by Crescat Capital as Part of a C$2 Million Non-Brokered Private PlacementNOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATESVANCOUVER, BC / ACCESSWIRE / October 27, 2022 / Tectonic Metals Inc. (TSXV:TECT; OTCQB:TETOF; FSE:T15B) (\"Tectonic\" or the \"Company\") is excited to announce that strategic shareholder, Crescat Capital (\"Crescat\"), in association with renowned geologist, Dr. Quinton Hennigh, is anchoring a C$2,000,000 non-brokered private placement of units issued by Tectonic.The OfferingThe Company is conducting a non-brokered private placing of up to 25,000,000 Units (the \"Units\") at a price of C$0.08 per unit for aggregate gross proceeds of up to C$2,000,000 (the \"Offering\"). Each unit is comprised of one common share of Tectonic and one common share purchase warrant (each whole warrant, a \"Warrant\"). Each whole Warrant will be exercisable for a common share at an exercise price of C$0.12 and will expire two years from the closing date of the private placement.The net proceeds of the Offering will be used to advance the Company's Flat Gold Project (\"Flat\") and for general working capital. Closing is subject to customary conditions, including the conditional acceptance of the TSXV. All securities issuable under the Offering will be subject to a four-month hold period from the date of closing.This news release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. This news release shall not constitute an offer to sell or the solicitation of an offer to buy any securities in the United States. The securities being offered have not been, nor will they be, registered under the United States Securities Act of 1933, as amended, or under any state securities laws in the United States, and such securities may not be offered or sold within the United States absent registration under U.S. federal and state securities laws or an applicable exemption from such U.S. registration requirements.About CrescatCrescat is a global macro asset management firm headquartered in Denver, Colorado, which deploys tac...