Tectonic Raises Over C$92 Million; Completes Upsized Private Placement with Full Over-Allotment Exercised

About this update from Tectonic Metals, Inc.

THIS NEWS RELEASE IS NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES VANCOUVER, BC / ACCESS Newswire / March 3, 2026 / 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$92,033,975, which includes the full exercise of the agents' over-allotment option. 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"). "Raising over C$92 million for a pre-resource exploration company is rare and deeply humbling," said Tony Reda, President and CEO of Tectonic Metals. "This level of support reflects a shared conviction in the potential of the Flat Gold Project and in our team's ability to execute. We do not take that trust lightly. Every dollar represents belief in our vision and a responsibility we take seriously. We are committed to advancing Flat with discipline, technical excellence, and an unwavering focus on creating meaningful returns for our shareholders." Under the Offering, the Company issued an aggregate of 42,806,500 common shares (the "Common Shares") at a price of C$2.15 per Common Share. The Offering comprised a brokered offering (the "Brokered Offering"), led by 3L Capital Inc., BMO Capital Markets and SCP Resource Finance LP, as co-lead agents and joint bookrunners, on behalf of a syndicate which included Research Capital Corporation, and a non-brokered offering (the "Non-Brokered Offering"). The Common Shares issued under the Offering were offered on a private placement basis to: (i) accredited investors (as defined in National Instrument 45-106 - Prospectus Exemptions) in all provinces and territories of Canada and (ii) investors in certain offshore jurisdictions (outside Canada) on a basis which did not require the qualification or registration of the Common Shares offered in such jurisdictions. A total of 37,340,361 Common Shares were issued under the Brokered Offering and a total of 5,466,139 Common Shares were issued under the No...

View stock analysis, news, and events for Tectonic Metals, Inc.