Business
Tectonic Completes Upsized Private Placement Raising C$21.2 Million
THIS NEWS RELEASE IS NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES VANCOUVER, BC / ACCESS Newswire / August 20, 2025 /Tectonic Metals Inc. (" Tectonic " or the " Company ") (TSX-V: TECT ) is pleased to announce ...
About this update from Tectonic Metals, Inc.
[{"type":"text","content":"THIS NEWS RELEASE IS NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES","length":109,"tagName":"p"},{"type":"text","content":"VANCOUVER, BC / ACCESS Newswire / August 20, 2025 / Tectonic Metals Inc. (" Tectonic " or the " Company ") (TSX-V: TECT ) is pleased to announce the successful closing of the Company's previously announced upsized private placement offering (the " Offering "), raising aggregate gross proceeds of C$21,207,639. The Offering underscores the support from large, established, and highly respected institutional investors in Tectonic's strategy and the potential of the Company's flagship Flat Gold Project in Alaska (" Flat " or the " Flat Project ").","length":610,"tagName":"p"},{"type":"text","content":"Under the Offering, the Company issued an aggregate of 22,323,831 common shares (the "Common Shares") at a price of C$0.95 per Common Share. The Offering comprised a brokered offering (the " Brokered Offering "), led by 3L Capital Inc., together with Canaccord Genuity Corp. and Research Capital Corporation (collectively, the " Agents "), and a non-brokered offering (the " Non-Brokered Offering ").","length":440,"tagName":"p"},{"type":"text","content":"Under the Offering, an aggregate of 14,585,105 Common Shares (the " LIFE Shares ") were issued pursuant to the listed issuer financing exemption under Part 5A of National Instrument 45-106 - Prospectus Exemptions (" NI 45-106 "), as amended by Coordinated Blanket Order 45-935 - Exemptions from Certain Conditions of the Listed Issuer Financing , for gross proceeds of C$13,855,849.75, and an aggregate of 7,738,726 Common Shares (the " Hold Shares ") were issued pursuant to the accredited investor exemption under NI 45-106 for gross proceeds of $7,351,789.70.","length":592,"tagName":"p"},{"type":"text","content":"A total of 14,085,105 LIFE Shares and 1,508,000 Hold Shares were issued under the Brokered Offering and a total of 500,000 LIFE Shares and 6,230,726 Hold Shares were issued under the Non-Brokered Offering.","length":205,"tagName":"p"},{"type":"text","content":"Tectonic's largest shareholder, Crescat Capital LLC, who currently beneficially owns or controls approximately 20.98% of the issue...