TECTONIC METALS INC - TETOF STOCK NEWS

Tectonic Metals Inc. has closed the first tranche of a private placement, raising $3,346,784.76 in gross proceeds. The offering consisted of 30,425,316 units at a price of $0.11 per unit. The financing was led by Tectonic's largest shareholder, Crescat Capital, maintaining their 19.56% ownership of the company. Each unit consists of one common share and one-half of one common share purchase warrant. The net proceeds will be used for the Flat Gold Project and general working capital.

Tectonic Metals Inc. has entered into an agreement with Canaccord Genuity Corp. for a private placement of units at a price of C$0.11 per unit. The offering is expected to raise up to C$6,000,000 and will be used to advance the Company's Flat Gold Project and for general corporate and working capital purposes.

Tectonic Metals has announced promising metallurgical test results from its Flat Gold Project in Alaska. The tests, which included conventional bottle roll and gravity methods, yielded gold recoveries averaging 95.6%, with one composite reaching 99.1%. A coarser crush test indicated an average recovery of 88.5%, suggesting viability for heap leaching. The results show that the mineralization is non-grind sensitive, low in sulphur, and favorable for various extraction methods. Tectonic plans to explore heap leaching further, capitalizing on these positive metrics to de-risk the project.

Tectonic Metals Inc. has announced the termination of its mineral lease agreement for the Seventymile Gold Project in Alaska, citing a disciplined approach to its exploration process. Despite positive exploration results, CEO Tony Reda emphasized the need for a clear three-year exploration plan and accountability for shareholder value. The company plans to focus on its Flat Gold Project for 2023, which is expected to provide a transformative opportunity. The decision reflects Tectonic's commitment to allocate resources where they yield the highest return on investment in the current market conditions.

Tectonic Metals Inc. announced the completion of its inaugural field program at the Flat Gold Project in southwestern Alaska, marking the first exploration in over 20 years. Key activities included trenching and sampling across a 3,800m long gold-in-soil anomaly, with significant results such as up to 8.8 grams per tonne gold in soil and 3.4 g/t in grab samples. The company aims to establish a solid technical foundation for a comprehensive drilling program in 2023, focusing on evaluating mineralization accurately.

Tectonic Metals has successfully closed a non-brokered private placement financing, raising C$3,100,900 by issuing 38,761,250 units at C$0.08 per unit. Each unit includes one common share and a warrant, exerciseable at C$0.12. This oversubscribed offering reflects strong demand despite challenging market conditions. The proceeds will fund Tectonic's Flat Gold Project and working capital. The issuance involves related parties, and all securities are subject to hold periods. The company aims to leverage its experienced team to enhance shareholder value.

Tectonic Metals Inc. has announced an upsized non-brokered private placement of units from C$2,000,000 to C$3,100,900. The offering will comprise up to 38,761,250 units priced at C$0.08 per unit, each including a common share and a warrant exercisable at C$0.12 for two years. Proceeds will be directed towards the Flat Gold Project and general working capital. The closing is contingent on standard conditions, including TSXV acceptance.