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Tectonic Metals Closes First Tranche of Extended Private Placement Offering

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Tectonic Metals Inc. (TSXV:TECT; OTCQB:TETOF) has closed the first tranche of its extended C$1.0 million non-brokered private placement offering, issuing 9,780,334 units at C$0.06 per unit for gross proceeds of C$586,820. Combined with the original offering, the company has raised C$3,657,459 in total. Each unit consists of one common share and a half warrant exercisable at C$0.10 for two years.

The offering included both freely tradeable LIFE units and restricted HOLD units. Finders' fees of C$27,720 and 462,000 warrants were paid. Proceeds will be used to advance the Flat Gold Project and for working capital. A second tranche is expected to close within 30 days, subject to TSXV approval.

Tectonic Metals Inc. (TSXV:TECT; OTCQB:TETOF) ha chiuso la prima tranche della sua offerta privata non brokerata estesa di C$1,0 milioni, emettendo 9.780.334 unità a C$0,06 per unità, per un totale di C$586.820. Combinato con l'offerta originale, l'azienda ha raccolto un totale di C$3.657.459. Ogni unità consiste in un'azione comune e mezza warrant esercitabile a C$0,10 per due anni.

L'offerta ha incluso sia unità LIFE liberamente commerciabili che unità HOLD soggette a restrizioni. Sono state pagate commissioni per cercatori di C$27.720 e 462.000 warrant. I proventi saranno utilizzati per far avanzare il Flat Gold Project e per il capitale circolante. Si prevede che una seconda tranche venga chiusa entro 30 giorni, soggetta all'approvazione del TSXV.

Tectonic Metals Inc. (TSXV:TECT; OTCQB:TETOF) ha cerrado la primera tranche de su oferta privada no intermediada ampliada de C$1,0 millones, emitiendo 9.780.334 unidades a C$0,06 por unidad, generando ingresos brutos de C$586.820. Combinado con la oferta original, la empresa ha recaudado un total de C$3.657.459. Cada unidad consta de una acción común y media opción que se puede ejercer a C$0,10 durante dos años.

La oferta incluyó tanto unidades LIFE libremente comerciables como unidades HOLD restringidas. Se pagaron comisiones por buscadores de C$27.720 y 462.000 opciones. Los ingresos se utilizarán para avanzar en el Flat Gold Project y para capital de trabajo. Se espera que una segunda tranche se cierre en un plazo de 30 días, sujeto a la aprobación de TSXV.

텍토닉 메탈스 주식회사 (TSXV:TECT; OTCQB:TETOF)가 캐나다 달러(C$) 100만의 비중개 사모펀드의 첫 번째 트랜치를 마감하였으며, C$0.06에 9,780,334개 유닛을 발행하여 총 C$586,820의 수익을 올렸습니다. 원래의 제안을 combined하여 회사는 총 C$3,657,459를 모집하였습니다. 각 유닛은 하나의 보통주와 두 년 동안 C$0.10에 행사 가능한 반 개의 워런트로 구성됩니다.

이번 제안에는 자유롭게 거래 가능한 'LIFE' 유닛과 제한된 'HOLD' 유닛이 포함되었습니다. 수수료로 C$27,720과 462,000개의 워런트가 지급되었습니다. 수익금은 Flat Gold Project를 발전시키고 운영 자본으로 사용될 예정입니다. 두 번째 트랜치는 TSXV 승인을 조건으로 30일 이내에 마감될 것으로 예상됩니다.

Tectonic Metals Inc. (TSXV:TECT; OTCQB:TETOF) a clôturé la première tranche de son offre de placement privé prolongée de 1,0 million de C$, émettant 9 780 334 unités à 0,06 C$ chacune, pour des produits bruts de 586 820 C$. Combiné avec l'offre initiale, la société a levé un total de 3 657 459 C$. Chaque unité se compose d'une action ordinaire et d'un demi-bonus exerçable à 0,10 C$ pendant deux ans.

L'offre comprenait à la fois des unités LIFE librement négociables et des unités HOLD restreintes. Des frais de recherche de 27 720 C$ et 462 000 bons ont été payés. Les produits seront utilisés pour faire avancer le projet Flat Gold et pour le fonds de roulement. Une deuxième tranche devrait se clôturer dans 30 jours, sous réserve de l'approbation de la TSXV.

Tectonic Metals Inc. (TSXV:TECT; OTCQB:TETOF) hat die erste Tranche seines erweiterten nicht vermittelten Privatplatzierungsangebots über 1,0 Millionen C$ abgeschlossen und 9.780.334 Einheiten zu einem Preis von 0,06 C$ pro Einheit ausgegeben, was einem Bruttoertrag von 586.820 C$ entspricht. Zusammen mit dem ursprünglichen Angebot hat das Unternehmen insgesamt 3.657.459 C$ gesammelt. Jede Einheit besteht aus einer Stammaktie und einer halben Warrant, die für zwei Jahre zu 0,10 C$ ausgeübt werden kann.

Das Angebot umfasste sowohl frei handelbare LIFE-Einheiten als auch eingeschränkte HOLD-Einheiten. Findergebühren in Höhe von 27.720 C$ und 462.000 Warrants wurden gezahlt. Die Erlöse werden verwendet, um das Flat Gold Project voranzutreiben und für Betriebskapital. Eine zweite Tranche wird voraussichtlich innerhalb von 30 Tagen abgeschlossen, vorbehaltlich der Genehmigung durch die TSXV.

Positive
  • Raised C$586,820 in first tranche of extended offering
  • Total gross proceeds of C$3,657,459 raised including original offering
  • Warrants provide potential for additional future funding at C$0.10 per share
Negative
  • Dilution of existing shareholders through issuance of new shares
  • Payment of C$27,720 in finders' fees reduces net proceeds

VANCOUVER, BC / ACCESSWIRE / October 4, 2024 / Tectonic Metals Inc. (TSXV:TECT)(OTCQB:TETOF)(FSE:T15B) ("Tectonic" or the "Company") is pleased to announce that the Company has closed the first tranche (the "First Tranche") of its extended C$1.0 million non-brokered private placement offering (the "Extended Offering") by issuing 9,780,334 units of the Company (the "Units") at a price of C$0.06 per Unit for aggregate gross proceeds of C$586,820. Together with the original offering (see news release dated August 19, 2024), the Company has closed an aggregate of C$3,657,459 in gross proceeds. The Company intends to close a second tranche of the Extended Offering within the next 30 days. The net proceeds of the Extended Offering will be used to advance the Company's Flat Gold Project and for general working capital.

The Extended Offering
Each Unit is composed of one Common Share in the capital of Tectonic (a "Common Share") and one-half Common Share purchase warrant of the Company (each whole warrant, a "Warrant"). Each Warrant is exercisable into one Common Share at an exercise price of C$0.10 per Common Share and expires two years from the closing date of the Extended Offering, as applicable. Units issued pursuant to LIFE subscriptions ("LIFE Units") under part 5A of National Instrument 45-106 - Prospectus Exemptions ("NI-45-106") will be freely tradeable listed equity securities not subject to any hold period. Non-LIFE Units ("HOLD Units") will be issued pursuant to the "accredited investor" exemption from the prospectus requirements found in NI 45-106 and in the United States pursuant to exemptions from the registration requirements in Regulation D of the U.S. Securities Act of 1933, as amended. All securities issuable as HOLD Units under the Extended Offering will be subject to a four-month hold period from the date of closing.

Closing of the First Tranche of the Extended Offering
On October 3, 2024, the Company issued 9,780,334 Common Shares and 4,890,167 Warrants for gross proceeds of C$586,820 pursuant to the First Tranche of the Extended Offering. LIFE Units comprised C$582,020 in gross proceeds with 9,700,334 Common Shares and 4,850,167 Warrants issued, while HOLD Units comprised C$4,800 in gross proceeds with 80,000 Common Shares and 40,000 Warrants issued. The Extended Offering is subject to certain conditions, including, but not limited to, the receipt of all necessary approvals, including the final approval of the TSXV.

In connection with the Offering and in accordance with the policies of the TSXV, the Company paid Canaccord Genuity Corp, Gerhard Merkel and Black Oak Ventures Limited cash finders' fees totalling C$27,720 and issued to the finders 462,000 non-transferable common share purchase warrants (each, a "Finder's Warrant"). Each Finder's Warrant is exercisable into one Common Share at an exercise price of C$0.10 per Common Share and expires October 3, 2026.

Learn More About Tectonic

  • Tour the Flat Gold Project 

    • Tectonic invites you to take a virtual tour of our Flat Gold Project with both the CEO of Tectonic and one of Alaska's largest for-profit Native Regional Corporations, Doyon, by clicking here: https://bit.ly/FlatProjectSiteTour

  • Watch our webinar associated with our July 15th, 2024, Financing News Release here

  • View our 2024 Fact Sheet or Corporate Presentation here

  • To learn more about Tectonic Metals or to Subscribe to our email list, click here

Qualified Person
Tectonic Metals' disclosure of technical or scientific information in this press release has been reviewed, verified and approved by Peter Kleespies, M.Sc., P.Geo., Vice President of Exploration, who is a Qualified Person in accordance with Canadian regulatory requirements set out in National Instrument 43-101.

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 Jesse Manna, Investor Relations, toll-free at 1.888.685.8558 or by email at jesse@tectonicmetals.com.

Cautionary Note Regarding Forward-Looking Statements
Certain information in this news release constitutes forward-looking information and statements under applicable securities law. Any statements contained in this news release that are not statements of historical fact may be deemed to be forward-looking statements. Forward-looking statements are often identified by terms such as "may", "should", "anticipate", "expect", "intend" and similar expressions and include, but are not limited to, the potential for mineralization at Tectonic's projects, any future exploration activities including the planned drilling and exploration program; the receipt of any regulatory approvals, including the final approval of the TSXV.

Forward-looking information is not a guarantee of future performance and is based upon a number of estimates and assumptions of management at the date the statements are made including, among others, assumptions about future prices of gold and other metal prices, currency exchange rates and interest rates, favourable operating conditions, political stability, obtaining governmental and other approvals and financing on time, obtaining required licenses and permits, labour stability, stability in market conditions, availability of equipment, accuracy of any mineral resources, successful resolution of disputes and anticipated costs and expenditures. Many assumptions are based on factors and events that are not within the control of Tectonic, and there is no assurance they will prove to be correct.

Although Tectonic considers these beliefs and assumptions to be reasonable based on information currently available to it, they may prove to be incorrect, and the forward-looking statements in this release are subject to numerous risks, uncertainties and other factors that may cause future results to differ materially from those expressed or implied in such forward-looking statements. Forward-looking statements necessarily involve known and unknown risks, including, without limitation: the Company's ability to implement its business strategies; risks associated with mineral exploration and production; risks associated with general economic conditions; adverse industry events; marketing and transportation costs; loss of markets; volatility of commodity prices; inability to access sufficient capital from internal and external sources, and/or inability to access sufficient capital on favourable terms; industry and government regulation; changes in legislation, income tax and regulatory matters; competition; currency and interest rate fluctuations; and other risks.

Readers are further cautioned not to place undue reliance on forward-looking statements as there can be no assurance that the plans, intentions or expectations upon which they are placed will occur. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement. Although Tectonic has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information. Tectonic does not undertake to update any forward-looking information, except in accordance with applicable securities laws.

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.



View the original press release on accesswire.com

FAQ

How much did Tectonic Metals (TETOF) raise in the first tranche of its extended offering?

Tectonic Metals raised C$586,820 in the first tranche of its extended offering by issuing 9,780,334 units at C$0.06 per unit.

What is the total amount raised by Tectonic Metals (TETOF) including the original offering?

Including the original offering, Tectonic Metals has raised a total of C$3,657,459 in gross proceeds.

What are the terms of the warrants issued in Tectonic Metals' (TETOF) offering?

Each whole warrant is exercisable into one common share at C$0.10 per share and expires two years from the closing date of the offering.

How will Tectonic Metals (TETOF) use the proceeds from the extended offering?

The net proceeds will be used to advance the company's Flat Gold Project and for general working capital.

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