Tectonic Metals Annouces Financing of up to $13.5 Million to Accelerate and Expand Drilling Campaign at Flat Gold Project
Tectonic Metals (OTCQB:TETOF) has announced a significant financing initiative of up to C$13.5 million through a combined brokered and non-brokered offering of up to 14,210,526 common shares at C$0.95 per share.
The offering includes participation from major shareholder Crescat Capital LLC, which currently owns approximately 20.98% of Tectonic's shares and will invest an additional $2 million. 3L Capital will serve as the Lead Agent for the brokered portion, with an option to increase the offering by up to 20%.
The company plans to use the proceeds to advance its Flat Gold Project, with Phase One drilling currently underway and plans to accelerate into Phase Two drilling. The offering is expected to close around August 20, 2025, subject to TSXV approval.
Tectonic Metals (OTCQB:TETOF) ha annunciato un'importante iniziativa di finanziamento fino a 13,5 milioni di dollari canadesi tramite un'offerta combinata, sia brokerata che non brokerata, di un massimo di 14.210.526 azioni ordinarie al prezzo di 0,95 CAD per azione.
L'offerta prevede la partecipazione del principale azionista Crescat Capital LLC, che attualmente detiene circa il 20,98% delle azioni di Tectonic e investirà ulteriori 2 milioni di dollari. 3L Capital agirà come Lead Agent per la parte brokerata, con un'opzione per aumentare l'offerta fino al 20%.
L'azienda intende utilizzare i fondi per portare avanti il suo Flat Gold Project, con la fase uno di perforazione già in corso e piani per accelerare la fase due. La chiusura dell'offerta è prevista intorno al 20 agosto 2025, soggetta all'approvazione della TSXV.
Tectonic Metals (OTCQB:TETOF) ha anunciado una importante iniciativa de financiamiento de hasta 13,5 millones de dólares canadienses mediante una oferta combinada, con y sin corredor, de hasta 14.210.526 acciones comunes a 0,95 CAD por acción.
La oferta incluye la participación del accionista mayoritario Crescat Capital LLC, que actualmente posee aproximadamente el 20,98% de las acciones de Tectonic y realizará una inversión adicional de 2 millones de dólares. 3L Capital actuará como agente principal para la parte con corredor, con una opción para aumentar la oferta hasta en un 20%.
La compañía planea usar los fondos para avanzar en su Proyecto Flat Gold, con la perforación de la Fase Uno ya en marcha y planes para acelerar la Fase Dos. Se espera que la oferta cierre alrededor del 20 de agosto de 2025, sujeta a la aprobación de la TSXV.
Tectonic Metals (OTCQB:TETOF)는 최대 1,350만 캐나다 달러 규모의 중개 및 비중개 혼합 공모를 통해 최대 14,210,526주의 보통주를 주당 0.95 캐나다 달러에 발행하는 중대한 자금 조달 계획을 발표했습니다.
이번 공모에는 현재 Tectonic 주식의 약 20.98%를 보유한 주요 주주 Crescat Capital LLC가 추가로 200만 달러를 투자할 예정입니다. 3L Capital이 중개 부분의 주간사 역할을 맡으며, 공모 규모를 최대 20%까지 늘릴 수 있는 옵션도 포함되어 있습니다.
회사는 이번 자금으로 Flat Gold Project를 진전시킬 계획이며, 1단계 시추가 진행 중이며 2단계 시추로 가속화할 계획입니다. 이번 공모는 TSXV 승인에 따라 2025년 8월 20일경 마감될 예정입니다.
Tectonic Metals (OTCQB:TETOF) a annoncé une opération de financement importante pouvant atteindre 13,5 millions de dollars canadiens via une offre combinée avec et sans intermédiaire pour un maximum de 14 210 526 actions ordinaires au prix de 0,95 CAD par action.
L'offre inclut la participation du principal actionnaire Crescat Capital LLC, qui détient actuellement environ 20,98 % des actions de Tectonic et investira 2 millions de dollars supplémentaires. 3L Capital agira en tant qu'agent principal pour la partie avec intermédiaire, avec une option d'augmenter l'offre jusqu'à 20 %.
La société prévoit d'utiliser les fonds pour faire avancer son projet Flat Gold, avec la phase un de forage déjà en cours et des plans pour accélérer la phase deux. La clôture de l'offre est prévue aux alentours du 20 août 2025, sous réserve de l'approbation de la TSXV.
Tectonic Metals (OTCQB:TETOF) hat eine bedeutende Finanzierungsmaßnahme von bis zu 13,5 Millionen kanadischen Dollar angekündigt, bestehend aus einem kombinierten Broker- und Non-Broker-Angebot von bis zu 14.210.526 Stammaktien zu 0,95 CAD pro Aktie.
Das Angebot umfasst die Beteiligung des Großaktionärs Crescat Capital LLC, der derzeit etwa 20,98 % der Tectonic-Aktien hält und weitere 2 Millionen US-Dollar investieren wird. 3L Capital wird als Lead Agent für den Broker-Teil fungieren, mit einer Option, das Angebot um bis zu 20 % zu erhöhen.
Das Unternehmen plant, die Erlöse zur Weiterentwicklung seines Flat Gold Projects zu verwenden, wobei die Bohrungen der Phase Eins bereits im Gange sind und die Beschleunigung der Phase Zwei geplant ist. Der Abschluss des Angebots wird voraussichtlich um den 20. August 2025 erfolgen, vorbehaltlich der Genehmigung durch die TSXV.
- Significant financing of up to C$13.5 million to accelerate drilling operations
- Strong support from major shareholder Crescat Capital with C$2 million commitment
- Agents granted option to increase offering size by additional 20%
- Phase One drilling program already in progress with Phase Two expansion planned
- Potential dilution for existing shareholders
- Share offering price represents a discount to market price
- Transaction involves related party participation requiring regulatory compliance
THIS NEWS RELEASE IS NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES
VANCOUVER, BC / ACCESS Newswire / July 31, 2025 / Tectonic Metals Inc. ("Tectonic" or the "Company") (TSXV:TECT)(OTCQB:TETOF) is pleased to announce an offering of up to 14,210,526 common shares of the Company (the "Common Shares") at a price of C
The Company has entered into an agreement with 3L Capital (the "Lead Agent"), pursuant to which the Lead Agent, on behalf of a syndicate of agents (collectively, the "Agents") will act as lead agent for the Company on a 'best efforts' agency basis in connection with the Brokered Offering. The Company has granted the Agents an option, which will allow the Agents to offer up to an additional
Tectonic's largest shareholder, Crescat Capital LLC, who currently beneficially owns or controls approximately
Tony Reda, President and CEO of Tectonic Metals, commented,
"Our Phase One drilling program is on track and the excitement across the Tectonic team continues to grow. The capital from this offering empowers us to quickly launch Phase Two drilling - accelerating our efforts to fully unlock the scale and potential of the Flat Gold Project for the benefit of all stakeholders."
The Common Shares to be issued under the Offering will be offered to (i) select 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 Exemption, for gross proceeds of up to C
The Agents will also be entitled to offer the Common Shares for sale in the United States pursuant to available exemptions from the registration requirements of the United States Securities Act of 1933, as amended (the "1933 Act"), and in those other jurisdictions outside of Canada and the United States provided it is understood that no prospectus filing or comparable obligation arises in such other jurisdiction.
The net proceeds of the Offering will be used to advance the Company's Flat Gold Project and for general corporate and working capital purposes.
There is an offering document relating to the LIFE Shares issuable under the Brokered Offering that 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 this 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 Agents (the "Closing Date"), and completion of the Offering is subject to certain conditions including, but not limited to, the receipt of all necessary approvals including the approval of the TSX Venture Exchange (the "TSXV").
The Offering and issuance of the Common Shares referenced in this press release will involve related parties (as such term is defined under Multilateral Instrument 61-101 - Protection of Minority Security Holders in Special Transactions ("MI 61-101")) and therefore constitutes a related party transaction under MI 61-101. This transaction will be exempt from the formal valuation and minority shareholder approval requirements of MI 61-101 pursuant to sections 5.5(b) and 5.7(1)(a) of MI 61-101, as the Company is not listed or quoted on any of the stock exchanges or markets listed in subsection 5.5(b) of MI 61-101, and neither the fair market value of the securities to be distributed nor the consideration to be received from such related parties for the securities issuable under the Offering will exceed
This press release shall not constitute an offer to sell or the solicitation of an offer to buy securities in the United States, nor shall there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful. The securities being offered have not been, nor will they be, registered under the 1933 Act or under any U.S. state securities laws, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the 1933 Act, as amended, and applicable state securities laws.
About Tectonic Metals Ltd.
Tectonic Metals Inc. is a gold exploration company founded by the same key executives who transformed Kaminak Gold from a
Success with the Coffee Gold Project is only one example, as each member of the Tectonic team has a significant track record of success in all facets of exploration and mining, including over 30 Moz of gold discoveries, 18 feasibility studies, 20 projects permitted, over
Flat is located in Alaska, just 40 km from Novagold's Donlin Gold Project-the 5th largest undeveloped gold deposit. Spanning 99,800 acres of predominantly Native-owned land belonging to Doyon Limited (Tectonic's second-largest shareholder and one of Alaska's largest Native Regional Corporations), Flat hosts a bulk-tonnage, Reduced Intrusion-Related Gold System (RIRGS) comparable to the Fort Knox gold mine.
Recognized as a prime example of the direct relationship between placer gold and bedrock sources, placer gold shed from Flat's intrusions has contributed to placer gold production. Notably, exploration at Flat has resulted in gold being intersected in all 86 drill holes, covering 3 km of drilled mineralized strike and reaching a vertical depth of 325 m at its primary intrusion target, Chicken Mountain - open in all directions.
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Qualified Person
Tectonic Metals' disclosure of technical or scientific information in this press release has been reviewed, verified and approved by Peter Kleespies, M.Sc., P.Geo., Vice President of Exploration, who is a Qualified Person in accordance with Canadian regulatory requirements set out in National Instrument 43-101.
On behalf of Tectonic Metals Inc.,
Tony Reda
President and Chief Executive Officer
For further information about Tectonic Metals Inc. or this news release, please visit our website at www.tectonicmetals.com or contact Jesse Manna, Investor Relations, toll-free at 1.888.685.8558 or by email at jesse@tectonicmetals.com
Cautionary Note Regarding Forward-Looking Statements
Certain information in this news release constitutes forward-looking information and statements under applicable securities law. Any statements that are contained in this news release that are not statements of historical fact may be deemed to be forward-looking statements. Forward-looking statements are often identified by terms such as "may", "should", "anticipate", "expect", "intend" and similar expressions and include, but are not limited to, statements regarding the Offering, including the expected closing date and the expected participation by Crescat Capital LLC or other related parties of the Company; the intended use of the net proceeds of the Offering; the potential for mineralization and planned exploration and drilling activities at Tectonic's projects, including any future exploration activities and the expected benefits or size thereof; and the receipt of any regulatory approvals, including the final approval of the TSXV for the Offering.
Forward-looking information is not a guarantee of future performance and is based upon a number of estimates, expectations and assumptions of management at the date the statements are made including, among others, expectations and assumptions about the Company securing sufficient financing for its planned exploration and drilling initiatives on acceptable terms or at all, future prices of gold and other metal prices, currency exchange rates and interest rates, favourable operating conditions, political stability, obtaining governmental and other approvals and financing on time, obtaining required licenses and permits, labour stability, stability in market conditions, availability of equipment, accuracy of any mineral resources, successful resolution of disputes and anticipated costs and expenditures. Many assumptions are based on factors and events that are not within the control of Tectonic, and there is no assurance they will prove to be correct.
Although Tectonic considers these beliefs and assumptions to be reasonable based on information currently available to it, they may prove to be incorrect, and the forward-looking statements in this release are subject to numerous risks, uncertainties and other factors that may cause future results to differ materially from those expressed or implied in such forward-looking statements. Forward-looking statements necessarily involve known and unknown risks, including, without limitation: the Company's ability to consummate the Offering on the terms described herein or at all; Tectonic's ability to operate as a going concern; Tectonic's requirement of significant additional capital; Tectonic's ability to implement its business strategies; risks associated with mineral exploration and production; risks associated with general economic conditions; adverse industry events; marketing and transportation costs; loss of markets; volatility of commodity prices; inability to access sufficient capital from internal and external sources, and/or inability to access sufficient capital on favourable terms; industry and government regulation; changes in legislation, income tax and regulatory matters; competition; currency and interest rate fluctuations; and other risks and uncertainties discussed in public filings made by Tectonic with the applicable Canadian securities regulatory authorities.
Readers are further cautioned not to place undue reliance on forward-looking statements as there can be no assurance that the plans, intentions, or expectations upon which they are placed will occur. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement. Although Tectonic has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information. Tectonic does not undertake to update any forward-looking information, except in accordance with applicable securities laws.
Neither the TSXV nor its Regulation Service Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release.
SOURCE: Tectonic Metals Inc.
View the original press release on ACCESS Newswire
FAQ
What is the size and price of Tectonic Metals' (TETOF) new share offering?
How will Tectonic Metals use the proceeds from its C$13.5M financing?
When is the expected closing date for Tectonic Metals' share offering?
How much is Crescat Capital investing in Tectonic Metals' new offering?
Who is the lead agent for Tectonic Metals' brokered offering?
