Tectonic Metals Surpasses C$5M IN Capital Raised with Oversubscribed Private Placement to Advance Flat GOLD Project Oversubscribed Second Tranche of Extended Non-Brokered Private Placement Now Closed

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TECTONIC METALS SURPASSES C$5M IN CAPITAL RAISED WITH

OVERSUBSCRIBED PRIVATE PLACEMENT TO ADVANCE FLAT GOLD

PROJECT

OVERSUBSCRIBED SECOND TRANCHE OF EXTENDED NON-BROKERED PRIVATE PLACEMENT

NOW CLOSED

VANCOUVER, B.C., 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.

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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

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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 [email protected]. 

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

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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.