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Altamira Gold Closes Upsized $5.28 Million Non-Brokered Private Placement
Vancouver, British Columbia--(Newsfile Corp. - July 2, 2025) - Altamira Gold Corp. (TSXV: ALTA) ...
About this update from Altamira Gold Corp
[{"type":"text","content":"Altamira Gold Closes Upsized $5.28 Million Non-Brokered Private PlacementVancouver, British Columbia--(Newsfile Corp. - July 2, 2025) - Altamira Gold Corp. (TSXV: ALTA) (FSE: T6UP) (OTC Pink: EQTRF) (\"Altamira\" or the \"Company\"), is pleased to announce that it has closed its previously announced non-brokered private placement, consisting of a total of 52,850,000 units (the \"Units\") at a price of $0.10 per Unit for aggregate gross proceeds of $5,285,000 (the \"Offering\"). Each Unit consists of one common share and one-half of one common share purchase warrant. Each whole warrant entitles the holder to purchase one additional common share at a price of C$0.15 for a period of 24 months from the closing of the Offering. Due to strong investor demand, the Offering was increased from the initial $4 million to $5.28 million. Crescat Capital LLC (\"Crescat\") and Aura Minerals Inc. (\"Aura\"), two of the Company's largest shareholders and strategic investors, participated in the private placement. Kevin Smith, CFA, Founder and CEO of Crescat Capital commented, \"We are excited about the district-scale potential of this unique gold porphyry system, the first of its kind in Brazil. At this stage, we see it as a fast-growing exploration story, with the deposit showing strong potential to expand quickly through cost-effective drilling. We are happy to support the Company with fresh capital and look forward to the results on the additional drilling planned at the Maria Bonita gold deposit, the Central resource area, and several previously untested porphyry gold targets.\"In connection with the Offering, the Company paid aggregate cash commission of $19,500, and issued an aggregate of 195,000 finder warrants to certain arm's-length finders. Each finder's warrant entitles the holder thereof to purchase one common share of the Company at a price of $0.15 per share for a period of 24 months from the closing of the Offering.The Company expects to use the net proceeds of the Offering 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.All securities issued pursuant to the Offering are subject to a four-mo...