on Tectonic Metals Inc. (CVE:TECT)
Tectonic Metals Raises Over $5 Million to Boost 2025 Drilling Efforts
Tectonic Metals Inc. has secured over C$5 million in strategic funding, led by Crescat Capital, completing a C$7 million non-brokered private placement aimed at supporting the company's 2025 Phase One Drill Program at the Flat Gold Project in Alaska. This initial drill program targets Alpha Bowl, Tectonic's latest high-grade oxide discovery. Crescat Capital's C$2 million investment underscores strong investor confidence in Tectonic.
Tectonic also announced a 10-for-1 share consolidation, effective around May 16, 2025, aimed at streamlining equity structure and enhancing institutional appeal. The reorganization aligns with increasing gold prices and anticipated broader institutional interest in the sector.
CEO Tony Reda emphasized the consolidation's strategic timing to maximize opportunities and potential discovery success, positioning Tectonic for a significant impact in the gold exploration market.
R. H.
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