Crescat Capital Leads Tectonic Metals $3 Million Private Placement

VANCOUVER, BC, July 15, 2024 – Tectonic Metals Inc. (TSX-V:TECT)(OTCQB:TETOF) announced a C$3,000,000 non-brokered private placement lead by Crescat Capital. Up to C$2,500,000 will utilize the Listed Issuer Financing Exemption (LIFE), making these shares freely tradeable.

Kevin Smith, CEO of Crescat Capital, highlighted Tectonic's potential, citing successful previous investments, while Crescat's Dr. Quinton Hennigh noted promising metallurgical test results. Tectonic CEO Tony Reda detailed the impressive early drilling results from the Flat Project, emphasizing new kilometer-scale targets. With one year of drilling, significant gold potential is already evident.

The Offering consists of up to 50,000,000 units at C$0.06 per unit. The units comprise one common share and one-half common share purchase warrant, exercisable at C$0.10. LIFE units will be unrestricted, whereas Hold Units will have a four-month hold period.

Proceeds will fund the Flat Gold Project and general working capital. The Offering is expected to close by August 15, 2024, subject to typical conditions, including TSXV acceptance.