Tectonic Metals Upsizes Financing to Up To $19 Million Due To Strong Investor Demand
Tectonic Metals (OTCQB:TETOF) has announced a significant upsize to its previously announced financing, now targeting up to C$19 million in gross proceeds. The offering will issue up to 20 million common shares at C$0.95 per share.
The financing includes both brokered and non-brokered components, led by 3L Capital Inc., Canaccord Genuity Corp., and Research Capital Corporation. Notably, Crescat Capital LLC, Tectonic's largest shareholder with a 20.98% stake, has increased their investment commitment to C$3 million, up from the previously announced C$2 million.
The proceeds will be used to advance the company's Flat Gold Project and for general corporate purposes. The offering is expected to close around August 20, 2025, subject to regulatory approvals.
Tectonic Metals (OTCQB:TETOF) ha annunciato un significativo aumento dell'importo della sua precedente raccolta fondi, puntando ora a raccogliere fino a 19 milioni di dollari canadesi di proventi lordi. L'offerta prevede l'emissione di un massimo di 20 milioni di azioni ordinarie a 0,95 dollari canadesi per azione.
Il finanziamento comprende componenti sia tramite intermediari che senza, guidati da 3L Capital Inc., Canaccord Genuity Corp. e Research Capital Corporation. Da notare che Crescat Capital LLC, il maggiore azionista di Tectonic con una partecipazione del 20,98%, ha aumentato il proprio impegno di investimento a 3 milioni di dollari canadesi, rispetto ai 2 milioni precedentemente annunciati.
I proventi saranno utilizzati per far avanzare il Flat Gold Project della società e per scopi aziendali generali. La chiusura dell'offerta è prevista intorno al 20 agosto 2025, subordinata alle approvazioni regolamentari.
Tectonic Metals (OTCQB:TETOF) ha anunciado un aumento significativo en su financiación previamente anunciada, apuntando ahora a recaudar hasta 19 millones de dólares canadienses en ingresos brutos. La oferta emitirá hasta 20 millones de acciones comunes a 0,95 dólares canadienses por acción.
La financiación incluye componentes tanto intermediados como no intermediados, liderados por 3L Capital Inc., Canaccord Genuity Corp. y Research Capital Corporation. Es importante destacar que Crescat Capital LLC, el mayor accionista de Tectonic con una participación del 20,98%, ha aumentado su compromiso de inversión a 3 millones de dólares canadienses, desde los 2 millones previamente anunciados.
Los ingresos se utilizarán para avanzar en el Flat Gold Project de la empresa y para propósitos corporativos generales. Se espera que la oferta cierre alrededor del 20 de agosto de 2025, sujeto a aprobaciones regulatorias.
Tectonic Metals (OTCQB:TETOF)는 이전에 발표한 자금 조달 규모를 크게 확대하여 총 1,900만 캐나다 달러의 총 수익을 목표로 한다고 발표했습니다. 이번 공모는 2,000만 주의 보통주를 주당 0.95 캐나다 달러에 발행할 예정입니다.
이번 자금 조달은 중개인과 비중개인 모두 포함되며, 3L Capital Inc., Canaccord Genuity Corp., Research Capital Corporation이 주도합니다. 특히, Tectonic의 최대 주주인 Crescat Capital LLC는 20.98%의 지분을 보유하고 있으며, 투자 약속을 기존 200만 캐나다 달러에서 300만 캐나다 달러로 늘렸습니다.
수익금은 회사의 Flat Gold Project 진행과 일반 기업 목적에 사용될 예정입니다. 이번 공모는 규제 승인에 따라 2025년 8월 20일경 마감될 예정입니다.
Tectonic Metals (OTCQB:TETOF) a annoncé une augmentation significative de son financement précédemment annoncé, visant désormais jusqu'à 19 millions de dollars canadiens de produits bruts. L'offre émettra jusqu'à 20 millions d'actions ordinaires au prix de 0,95 dollar canadien par action.
Le financement comprend des composantes avec et sans intermédiaire, dirigées par 3L Capital Inc., Canaccord Genuity Corp. et Research Capital Corporation. Notamment, Crescat Capital LLC, le principal actionnaire de Tectonic avec une participation de 20,98%, a augmenté son engagement d'investissement à 3 millions de dollars canadiens, contre 2 millions annoncés précédemment.
Les fonds seront utilisés pour faire avancer le Flat Gold Project de la société et pour des besoins généraux d'entreprise. La clôture de l'offre est prévue vers le 20 août 2025, sous réserve des approbations réglementaires.
Tectonic Metals (OTCQB:TETOF) hat eine erhebliche Aufstockung seiner zuvor angekündigten Finanzierung bekannt gegeben und strebt nun bis zu 19 Millionen kanadische Dollar Bruttoerlös an. Das Angebot umfasst die Ausgabe von bis zu 20 Millionen Stammaktien zu je 0,95 kanadischen Dollar pro Aktie.
Die Finanzierung beinhaltet sowohl vermittelte als auch nicht vermittelte Komponenten, angeführt von 3L Capital Inc., Canaccord Genuity Corp. und Research Capital Corporation. Bemerkenswert ist, dass Crescat Capital LLC, der größte Aktionär von Tectonic mit einem Anteil von 20,98%, seine Investitionszusage von zuvor 2 Millionen auf 3 Millionen kanadische Dollar erhöht hat.
Die Erlöse werden verwendet, um das Flat Gold Project des Unternehmens voranzutreiben und für allgemeine Unternehmenszwecke. Der Abschluss des Angebots wird voraussichtlich um den 20. August 2025 erfolgen, vorbehaltlich behördlicher Genehmigungen.
- None.
- Significant share dilution through issuance of up to 20 million new common shares
- Hold Shares portion subject to 4-month statutory hold period
THIS NEWS RELEASE IS NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES
VANCOUVER, BC / ACCESS Newswire / August 7, 2025 / Tectonic Metals Inc. (" Tectonic " or the " Company ") (TSX-V:TECT)(OTCQB:TETOF) is pleased to announce that due to strong investor demand the Company has upsized its previously announced financing (the " Offering "). The upsized Offering will consist of up to an aggregate of 20,000,000 common shares of the Company (the " Common Shares "), at a price of C
The Offering comprises a brokered offering (the " 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 (the " Non-Brokered Offering ")
Tectonic's largest shareholder, Crescat Capital LLC, who currently beneficially owns or controls approximately
The Company has granted the Agents an option, which will allow the Agents to offer up to an additional
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
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What are the resale restrictions on Tectonic Metals' (TETOF) offering shares?
