Tectonic Announces Strategic Investment by Crescat Capital as Part of a C$2 Million Non-Brokered Private Placement

Rhea-AI Summary

Tectonic Metals Inc. announces a C$2,000,000 non-brokered private placement, anchored by strategic shareholder Crescat Capital and geologist Dr. Quinton Hennigh. The offering involves the issuance of up to 25,000,000 units at C$0.08 per unit, each consisting of a common share and a warrant exercisable at C$0.12 for two years. Proceeds will fund the Flat Gold Project and general working capital, subject to TSXV approval. All securities will have a four-month hold period post-closing.

Positive

• Secured C$2,000,000 funding through strategic placement.
• Collaboration with Crescat Capital and Dr. Quinton Hennigh enhances credibility.
• Funds will advance the Flat Gold Project, potentially increasing resource value.

Negative

• None.

NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES

VANCOUVER, BC / ACCESSWIRE / October 27, 2022 / Tectonic Metals Inc. (TSXV:TECT; OTCQB:TETOF; FSE:T15B) ("Tectonic" or the "Company") is excited to announce that strategic shareholder, Crescat Capital ("Crescat"), in association with renowned geologist, Dr. Quinton Hennigh, is anchoring a C$2,000,000 non-brokered private placement of units issued by Tectonic.

The Offering

The Company is conducting a non-brokered private placing of up to 25,000,000 Units (the "Units") at a price of C$0.08 per unit for aggregate gross proceeds of up to C$2,000,000 (the "Offering"). Each unit is comprised of one common share of Tectonic and one common share purchase warrant (each whole warrant, a "Warrant"). Each whole Warrant will be exercisable for a common share at an exercise price of C$0.12 and will expire two years from the closing date of the private placement.

The net proceeds of the Offering will be used to advance the Company's Flat Gold Project ("Flat") and for general working capital. Closing is subject to customary conditions, including the conditional acceptance of the TSXV. All securities issuable under the Offering will be subject to a four-month hold period from the date of closing.

This news release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. This news release shall not constitute an offer to sell or the solicitation of an offer to buy any securities in the United States. The securities being offered have not been, nor will they be, registered under the United States Securities Act of 1933, as amended, or under any state securities laws in the United States, and such securities may not be offered or sold within the United States absent registration under U.S. federal and state securities laws or an applicable exemption from such U.S. registration requirements.

About Crescat

Crescat is a global macro asset management firm headquartered in Denver, Colorado, which deploys tactical investment themes based on proprietary value-driven equity and macro models. Crescat's investment goals are to provide industry-leading absolute, and risk-adjusted returns over complete business cycles with low correlation to common benchmarks, and they apply their investment process across a mix of asset classes and strategies. Crescat is taking activist stakes in the precious metals exploration industry today as one of its key macro themes.

About Tectonic

Tectonic Metals Inc. is a mineral exploration company created and operated by an experienced and well-respected technical and financial team with a track record of wealth creation for shareholders. Key members of the Tectonic team were involved with Kaminak Gold Corporation, the Company that raised C$165 million to fund the acquisition, discovery, and advancement of the Coffee Gold Project in the Yukon Territory through to the completion of a bankable feasibility study before selling the multi-million-ounce gold project to Goldcorp Inc. (now Newmont) for C$520 million in 2016. Tectonic is focused on the acquisition, exploration, discovery, and development of mineral resources from district-scale projects in politically stable jurisdictions that have the potential to host world-class orebodies.

Whether at home or at work, the Tectonic team is grounded on the following core values: passion, integrity, patience, focus, perseverance, honesty, fairness, accountability, respect and a play big mindset. The Company works for its shareholders and is committed to creating value for them.

To learn more about Tectonic, please click here.

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 Tony Reda, President & CEO of Tectonic, or Bill Stormont, Investor Relations, at toll-free at 1.888.685.8558 or by email at info@tectonicmetals.com.

Facebook: https://www.facebook.com/TectonicMetals/
Twitter: https://twitter.com/TectonicMetals
Instagram: https://www.instagram.com/tectonicmetals/
LinkedIn: https://www.linkedin.com/company/tectonic-metals

[Neither the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.]

SOURCE: Tectonic Metals Inc.

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https://www.accesswire.com/722572/Tectonic-Announces-Strategic-Investment-by-Crescat-Capital-as-Part-of-a-C2-Million-Non-Brokered-Private-Placement

FAQ

What is Tectonic Metals' recent funding announcement?

Tectonic Metals announced a C$2,000,000 non-brokered private placement led by Crescat Capital.

What will the proceeds from Tectonic's private placement be used for?

Proceeds will be used to advance the Flat Gold Project and for general working capital.

What is the exercise price of the warrants in Tectonic's private placement?

The warrants are exercisable at C$0.12 per share.

Who is involved in Tectonic's private placement?

Crescat Capital, alongside geologist Dr. Quinton Hennigh, is anchoring the private placement.

What are the terms of Tectonic's private placement?

The offering comprises up to 25,000,000 units at C$0.08 per unit, with a four-month hold period.