Tectonic Metals Expands Financing to C$19 Million Due to High Demand

Tectonic Metals Inc., a gold exploration company based in Vancouver, has announced an increase in its financing initiative to C$19 million, driven by strong investor demand. Initially planned at a smaller scale, the offering will now include up to 20 million common shares at C$0.95 each.

The offering is split into a brokered segment, led by 3L Capital Inc., Canaccord Genuity Corp., and Research Capital Corporation, and a non-brokered part. Crescat Capital LLC, Tectonic's largest shareholder, will increase its investment to C$3 million.

Tectonic aims to use the proceeds to advance its Flat Gold Project and for general purposes. The offering, expected to close by August 20, 2025, is contingent on various approvals, including from the TSX Venture Exchange. The shares will be available in Canada, excluding Québec, and internationally, subject to exemptions.