Tectonic Metals raised C$92 million in a private share sale to fund its Alaska gold project, with major shareholder Crescat buying shares.

Tectonic Metals raised C$92.03 million in a private placement, issuing 42.8 million shares at C$2.15 each, including the full exercise of an over-allotment option. The funds will advance the Flat Gold Project in Alaska and support general corporate needs. Crescat Portfolio Management, the largest shareholder, bought 6.75 million shares, triggering a related party exemption. Brokers received C$4.27 million in commissions, and finders’ fees totaled C$294,120. All shares are subject to a four-month hold until July 4, 2026, and the offering was not for distribution in the U.S.