Tectonic Metals Raises C$21.2 Million Through Private Placement

Vancouver-based Tectonic Metals Inc. has successfully closed its upsized private placement, raising C$21.2 million. The funds demonstrate strong institutional support for Tectonic's Flat Gold Project in Alaska. The offering issued 22,323,831 common shares at C$0.95 each, involving both brokered and non-brokered placements. Key participants included Crescat Capital LLC, Tectonic's largest shareholder.

The brokered offering, led by 3L Capital Inc. and others, issued 14,585,105 shares, while the non-brokered offering issued 7,738,726. The proceeds will advance the Flat Project and cover corporate expenses. The offering, involving a related party transaction with Crescat, complies with Multilateral Instrument 61-101, bypassing certain formal requirements.

Tectonic paid C$913,711 in commissions and issued 962,722 compensation warrants, pending TSX Venture Exchange approval. These securities are on hold until December 21, 2025. The offering highlights Tectonic's strategic push to expand its exploration activities in the promising gold regions of Alaska.