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Altamira Gold Announces Non-Brokered Private Placement of up to C$4 Million with Lead Order from Strategic Investor Crescat Capital
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About this update from Altamira Gold Corp
[{"type":"text","content":"Altamira Gold Announces Non-Brokered Private Placement of up to C$4 Million with Lead Order from Strategic Investor Crescat CapitalNot for distribution to United States Newswire Services or for dissemination in the United StatesVancouver, British Columbia--(Newsfile Corp. - June 11, 2025) - Altamira Gold Corp. (TSXV: ALTA) (FSE: T6UP) (OTC Pink: EQTRF) (\"Altamira\" or the \"Company\"), is pleased to announce a non-brokered private placement (the \"Offering\") of up to 40 million units of the Company (the \"Units\") at a price of C$0.10 per Unit for gross proceeds of up to C$4 million. Each Unit will be comprised of one common share and one-half common share purchase warrant (a \"Warrant\"), with each whole Warrant exercisable into one additional common share of the Company at C$0.15 per share for a period of 24 months from closing of the Offering. Crescat Capital LLC (\"Crescat\") and Aura Minerals Inc. (\"Aura\"), two of the Company's largest shareholders and strategic investors, have indicated their intention to participate in this placement. Net proceeds of the Offering will be used for follow- up drilling at the Company's Maria Bonita porphyry gold Resource, the Central Area Mineral Resources, and other targets within the Cajueiro project. Funds will also support additional exploration programs within other projects and be used for general working capital purposes. President & CEO, Michael Bennett, commented; \"The maiden resources at Maria Bonita significantly increase the known resource base, effectively doubling Altamira's Indicated and Inferred resources when combined with Cajueiro Central. With consistent near-surface gold mineralization and nine drill-ready targets so far identified within the district, this financing will allow us to advance drilling on many of the high-priority targets. We're focused on expanding known resources and unlocking further potential across the broader Cajueiro gold district.\"The Company has agreed to pay a finder's fee to arm's length parties for services rendered in respect of the Offering. The finder's fee will consist of a cash fee equal to 6% of the gross proceeds from the sale of Units to third parties sourced by the finders, and finder's warrants equal in number to 6% of the Units sold to third parties sourced by the finders. Each finder's warrant will be exercisable ...