Tectonic Metals Upsizes Financing to $80 Million

Core Viewpoint - Tectonic Metals Inc. has announced an upsized private placement offering due to strong investor demand, aiming to raise C$80 million through the sale of 37,210,000 common shares at a price of C$2.15 per share [1][2]. Offering Details - The offering is being led by 3L Capital Inc., with BMO Capital Markets and SCP Resource Finance LP as co-lead agents [2]. - The Agents have an option to increase the offering size by up to 15% of the common shares sold, exercisable up to 48 hours before the closing [3]. - The common shares will be offered to accredited investors in Canada, U.S. investors under certain exemptions, and investors in specific offshore jurisdictions [4]. Use of Proceeds - The net proceeds from the offering will be allocated to advance the Flat Gold Project and for general corporate and working capital purposes [5]. Closing and Regulatory Approval - The offering is expected to close around February 24, 2026, subject to necessary approvals, including from the TSX Venture Exchange [6]. Compensation for Agents - The company will pay the Agents a cash commission of 6.0% of the gross proceeds from the offering, reduced to 2.0% for certain president's list purchases [7].