Business
Tectonic Metals Announces Increase to The Life Portion of Its Previously Announced Up To $19.0 Million Financing
THIS NEWS RELEASE IS NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE U...
About this update from Tectonic Metals, Inc.
[{"type":"text","content":"Tectonic Metals Announces Increase to The Life Portion of Its Previously Announced Up To $19.0 Million FinancingTHIS NEWS RELEASE IS NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES VANCOUVER, BC / ACCESS Newswire / August 19, 2025 / Tectonic Metals Inc. (\" Tectonic \" or the \" Company \") (TSX-V:TECT)(OTCQB:TETOF) announces certain updates to its previously announced offering of up to 20,000,000 common shares of the Company (the \" Common Shares \"), at a price of C$0.95 per Common Share, for aggregate gross proceeds of up to C$19 million (the \" Offering \").The Offering comprises a brokered offering, being led by 3L Capital Inc., together with Canaccord Genuity Corp. and Research Capital Corporation (collectively, the \" Agents \"), and a non-brokered offering.Pursuant to the amended terms of the Offering, up to 14,736,842 Common Shares may now be offered to certain purchasers 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 up to C$14,000,000 (the \" LIFE Shares \"), in all the provinces and territories of Canada, except Québec, and the remaining 5,263,158 Common Shares will be allocated to purchasers pursuant to the accredited investor exemption under NI 45-106 for the balance of the Offering.This represents an increase of C$7.1 million in anticipated gross proceeds from the sale of the LIFE Shares than previously disclosed, with a corresponding reduction in the anticipated gross proceeds from the sale of the remaining Common Shares under the Offering. In all other respects, the terms of the Offering remain the same as previously disclosed in the Company's news release dated August 7, 2025.The amended and restated offering document (the \" Offering Document \") relating to the LIFE Shares issuable under the Offering can be accessed under the Company's profile at www.sedarplus.ca and on the Company's website at www.tectonicmetals.com. Prospective investors should read the Offering Document before making an investment decision.The Offering is expected to close on or about August 20, 2025, or such other date or dates as determined by the Company and the Agen...