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Tectonic Metals Surpasses C$5M In Capital Raised With Oversubscribed Private Placement To Advance Flat Gold Project

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Tectonic Metals has successfully closed the second tranche of its extended non-brokered private placement, raising additional gross proceeds of C$1,691,712 through the issuance of 28,195,200 units at C$0.06 per unit. Combined with previous offerings, the company has now raised total gross proceeds of C$5,349,171. Each unit consists of one common share and one-half common share purchase warrant, exercisable at C$0.10 per share. The company also granted 9,000,000 incentive stock options at C$0.10 per share with a five-year term. In connection with the offering, Tectonic paid total finders' fees of C$226,029 and issued 3,767,153 finder's warrants.

Tectonic Metals ha chiuso con successo la seconda tranche del suo collocamento privato esteso senza intermediari, raccogliendo ulteriori proventi lordi di C$1.691.712 attraverso l'emissione di 28.195.200 unità a C$0,06 per unità. Combinando le offerte precedenti, la società ha ora raccolto un totale di proventi lordi di C$5.349.171. Ogni unità è composta da un'azione ordinaria e una mezza opzione di acquisto di azioni ordinarie, esercitabile a C$0,10 per azione. La società ha anche concesso 9.000.000 di stock option incentivanti a C$0,10 per azione con una durata di cinque anni. In relazione all'offerta, Tectonic ha pagato commissioni totali ai cercatori di C$226.029 e ha emesso 3.767.153 di warrant per cercatori.

Tectonic Metals ha cerrado con éxito la segunda parte de su colocación privada ampliada sin intermediarios, recaudando ingresos brutos adicionales de C$1.691.712 a través de la emisión de 28.195.200 unidades a C$0,06 por unidad. Junto con ofertas anteriores, la compañía ha recaudado ahora un total de ingresos brutos de C$5.349.171. Cada unidad consiste en una acción común y media opción de compra de acciones comunes, ejercitable a C$0,10 por acción. La compañía también otorgó 9.000.000 de opciones sobre acciones incentivadas a C$0,10 por acción con un plazo de cinco años. En relación con la oferta, Tectonic pagó un total de comisiones por búsqueda de C$226.029 y emitió 3.767.153 garantías para buscadores.

Tectonic Metals는 중개인 없이 확대된 사모 배정을 통해 두 번째 트랜치를 성공적으로 마감하고, 유닛 28,195,200개를 유닛당 C$0.06에 발행하여 추가로 총 C$1,691,712의 수익을 올렸습니다. 이전 제안과 결합하여, 회사는 현재 총 C$5,349,171의 총 수익을 모금했습니다. 각 유닛은 하나의 보통주와 보통주 매수권 반 개로 구성되며, 주당 C$0.10에 행사 가능합니다. 회사는 또한 C$0.10의 주가로 9,000,000개의 인센티브 스톡 옵션을 5년 기간으로 부여했습니다. 이와 관련하여 Tectonic은 총 C$226,029의 중개 수수료를 지급하고 3,767,153개의 중개자 보증을 발행했습니다.

Tectonic Metals a réussi à conclure la deuxième tranche de son placement privé élargi sans intermédiaire, levant des produits bruts supplémentaires de C$1.691.712 par l'émission de 28.195.200 unités à C$0,06 par unité. En combinant avec les offres précédentes, la société a maintenant levé des produits bruts totaux de C$5.349.171. Chaque unité se compose d'une action ordinaire et d'une demi-option d'achat d'actions ordinaires, exerçable à C$0,10 par action. La société a également accordé 9.000.000 d'options d'achat d'actions incitatives à C$0,10 par action pour une durée de cinq ans. En relation avec l'offre, Tectonic a payé des frais de recherche totalisant C$226.029 et a émis 3.767.153 bons de recherche.

Tectonic Metals hat erfolgreich die zweite Tranche seiner erweiterten nicht-brokerage privaten Platzierung abgeschlossen und zusätzliche Bruttoeinnahmen von C$1.691.712 durch die Emission von 28.195.200 Einheiten zu je C$0,06 pro Einheit erzielt. Zusammen mit vorherigen Angeboten hat das Unternehmen nun insgesamt Bruttoeinnahmen von C$5.349.171 gesammelt. Jede Einheit besteht aus einer Stammaktie und einer halben Kaufoption auf Stammaktien, die zu C$0,10 pro Aktie ausgeübt werden kann. Darüber hinaus hat das Unternehmen 9.000.000 Anreizaktienoptionen zu C$0,10 pro Aktie mit einer Laufzeit von fünf Jahren gewährt. Im Zusammenhang mit dem Angebot hat Tectonic insgesamt C$226.029 an Vermittlungsgebühren gezahlt und 3.767.153 Vermittler-Warrants ausgegeben.

Positive
  • Successfully raised C$5.35M in total gross proceeds, demonstrating strong investor confidence
  • Oversubscribed private placement indicates market interest in company's projects
  • Additional capital strengthens company's ability to advance Flat Gold Project
Negative
  • Significant dilution through issuance of 28,195,200 new shares
  • Additional dilution potential from 14,097,600 warrants if exercised
  • Substantial finders' fees of C$226,029 and 3,767,153 warrants reduce net proceeds

OVERSUBSCRIBED SECOND TRANCHE OF EXTENDED NON-BROKERED PRIVATE PLACEMENT NOW CLOSED

VANCOUVER, BC / ACCESSWIRE / November 4, 2024 / Tectonic Metals Inc. (TSX-V:TECT)(OTCQB:TETOF)(FSE:T15B) ("Tectonic" or the "Company) is pleased to announce the closing of the second tranche (the "Second Tranche") of its previously extended C$1.0 million non-brokered private placement (the "Extended Offering") initially announced on October 4, 2024. In this tranche, the Company issued 28,195,200 units of the Company (the "Units") at a price of C$0.06 per Unit, securing additional gross proceeds of C$1,691,712.

With this Second Tranche closing, combined with the first tranche of the Extended Offering and the initial offering (the "Initial Offering") announced on July 15, 2024, Tectonic has raised cumulative gross proceeds of C$5,349,171. This successful financing underscores strong investor confidence in Tectonic's strategic initiatives to advance its flagship Flat Gold Project in Alaska and affirms support for the Company's vision and exploration potential.

The 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 Second Tranche of the Extended Offering

On November 1, 2024, the Company issued 28,195,200 Common Shares and 14,097,600 Warrants for gross proceeds of C$1,691,712 pursuant to the Second Tranche of the Extended Offering. LIFE Units comprised C$591,708 in gross proceeds with 9,861,800 Common Shares and 4,930,900 Warrants issued, while HOLD Units comprised C$1,100,004 in gross proceeds with 18,333,400 Common Shares and 9,166,700 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 Second Tranche Extended Offering and in accordance with the policies of the TSXV, the Company paid Canaccord Genuity Corp, Haywood Securities Inc, Ventum Financial Corp, Roche Securities Ltd, Gerhard Merkel, and Black Oak Ventures Limited cash finders' fees totalling C$98,143 and issued to the finders 1,635,714 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 November 1, 2026. In total, the Company paid cumulative cash finders fees of $226,029 and issued 3,767,153 non-transferable Finders Warrants for both the Extended Offering and the Initial Offering.

Stock Option Grant

The Company announces that it has granted an aggregate of 9,000,000 incentive stock options entitling the holder to purchase the same number of common shares of the Company at a price of $0.10 per share. The incentive stock options vest over 12 months, have a five-year life from the grant date and are subject to the terms and conditions of the Company's stock option plan.

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

  • To be a part of "The Shift," follow us on social media: 

X: https://x.com/TectonicMetals

LinkedIn: https://www.linkedin.com/company/tectonic-metals

Instagram: https://www.instagram.com/tectonicmetals/

Facebook: https://www.facebook.com/TectonicMetals/

YouTube: https://www.youtube.com/@TectonicMetalsInc

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 their latest private placement?

In the second tranche of the extended offering, Tectonic Metals raised C$1,691,712, bringing the total gross proceeds across all offerings to C$5,349,171.

What is the exercise price of the warrants issued in Tectonic Metals' (TETOF) November 2024 offering?

The warrants are exercisable at C$0.10 per common share and expire two years from the closing date of the Extended Offering.

How many stock options did Tectonic Metals (TETOF) grant in November 2024?

Tectonic Metals granted 9,000,000 incentive stock options at a price of C$0.10 per share with a five-year term, vesting over 12 months.

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