VANCOUVER, British Columbia, Feb. 11, 2026 (GLOBE NEWSWIRE) -- Tectonic Metals Inc. ("Tectonic" or the "Company") (TSX-V: TECT; OTCQB: TETOF), is pleased to announce that due to strong investor demand, the Company has upsized its previously announced brokered "best efforts" private placement (the "Offering"). The upsized Offering will consist of up to an aggregate of 37,210,000 common shares in the capital of the Company (the "Common Shares"), at a price of C$2.15 per Common Share for aggregate gross proceeds of C$80 million.
The Offering is being led by 3L Capital Inc., on behalf of itself, and BMO Capital Markets and SCP Resource Finance LP as co-lead agents and joint bookrunners (the "Lead Agents") on behalf of a syndicate of agents (together with the Lead Agents, the "Agents").
The Company has granted the Agents an option to increase the size of the Offering by up to an additional 15% of the Common Shares sold under the Offering, exercisable in whole or in part, at any time and from time to time up to 48 hours prior to the closing of the Offering (the "Agents' Option").
The Common Shares issuable under the Offering will be offered on a private placement basis to: (i) accredited investors (as defined in National Instrument 45-106, Prospectus Exemptions) in all provinces and territories of Canada; (ii) investors in the United States pursuant to available exemptions from the registration requirements of the United States Securities Act of 1933, as amended (the "U.S. Securities Act"); and (iii) investors in certain offshore jurisdictions (outside Canada and the United States) on a basis which does not require the qualification or registration of the Common Shares offered in such jurisdictions.
The net proceeds of the Offering will be used to advance the Company's Flat Gold Project and for general corporate and working capital purposes.
The Common Shares will be subject to a statutory hold period of four months and one day from the date of issuance thereof in accordance with applicable Canadian securities laws. The Offering is expected to close on or about February 24, 2026, or such other date or dates as determined by the Company and the Agents (the "Closing Date"), and completion of the Offering is subject to certain conditions including, but not limited to, the receipt of all necessary approvals including the approval of the TSX Venture Exchange (the ...
