VANCOUVER, BC — March 3, 2026 — Leads & Copy — Tectonic Metals Inc. (TSX-V:TECT) has successfully closed its oversubscribed private placement, raising C$92,033,975. The financing includes the full exercise of the agents’ over-allotment option. According to Tectonic, the offering shows support from institutional investors in the company’s strategy and the potential of the Flat Gold Project in Alaska.
The company issued 42,806,500 common shares at C$2.15 each. The offering included a brokered portion led by 3L Capital Inc., BMO Capital Markets, and SCP Resource Finance LP, along with Research Capital Corporation, and a non-brokered portion.
Shares were offered privately to accredited investors in Canada and certain offshore jurisdictions.
Of the total, 37,340,361 common shares were issued under the brokered offering and 5,466,139 under the non-brokered offering.
Crescat Portfolio Management LLC, Tectonic’s largest shareholder with approximately 16.45% of outstanding shares, purchased 6,750,000 common shares for C$14,512,500.00. This participation was pursuant to a pre-emptive right and is considered a related party transaction, but it is exempt from certain valuation and minority shareholder approval requirements.
The company paid cash commissions totaling C$4,271,125.50 for the brokered offering. Additionally, Sprott Asset Management USA, Inc. will receive C$61,920, and a European family office will receive C$232,200 for the non-brokered offering.
The common shares are subject to a hold period until July 4, 2026, under Canadian securities laws, pending TSXV approval.
The net proceeds will be used to advance the Flat Project and for general corporate and working capital.
Tony Reda, President and CEO of Tectonic Metals, stated that raising over C$92 million is rare for a pre-resource exploration company. He added that the company is committed to advancing Flat with discipline and technical excellence, and creating meaningful returns for shareholders.
Tectonic Metals is focused on creating value for shareholders through exploration and development of its mineral properties. Peter Kleespies, M.Sc., P.Geo., Vice President of Exploration, reviewed and approved the technical information in the release.
Source: Tectonic Metals Inc.
