- Tectonic Metals (ТСXV: TECT; OTCQB: TETOF) secures over C$5 million in funding led by Crescat Capital.
- A 2025 Phase One Drill Program is set to launch at the Alpha Bowl discovery in Alaska.
- The company announces a 10-for-1 share consolidation to improve trading efficiency and institutional appeal.
Tectonic Metals (TETOF, Financial) has successfully secured over C$5 million in strategic investments as part of a C$7 million private placement, with a significant C$2 million cornerstone investment from major shareholder Crescat Capital. The funding will bolster the 2025 Phase One Drill Program at Alpha Bowl, a high-grade oxide discovery within the Flat Gold Project in Alaska.
The notable discovery hole CMR24-026 yielded impressive results, with 65.53 meters at 1.22 g/t Au, including higher-grade sections of 18.29 meters at 2.22 g/t Au, 6.10 meters at 6.01 g/t Au, and 1.52 meters at 21.72 g/t Au, extending the mineralized strike to 3 kilometers. Drilling is scheduled to commence in May 2025, with further exploration aimed at expanding the deposit's size and understanding.
In a strategic move to enhance market visibility and attract institutional investment, Tectonic has announced a 10-for-1 share consolidation. This reduction will decrease outstanding shares from approximately 419.85 million to roughly 41.99 million, with post-consolidation trading expected to begin around May 16, 2025, on the TSX Venture Exchange.
Tectonic's President & CEO, Tony Reda, emphasized the importance of these developments in positioning the company for a breakout year: "This is a defining moment for Tectonic. With over C$5 million already secured, we are fully-funded for our 2025 Phase One Drill Program and aligned with partners who believe in our long-term vision."
