Business
ATERRA Metals Closes $2.78 Million Private Placement
Toronto, Ontario--(Newsfile Corp. - January 22, 2026) - ATERRA Metals Inc. (CSE: ATC) (OTCQB: CSSCF) ("ATERRA" or the "Company") is pleased to announce the clos
About this update from Aterra Metals Inc.
[{"type":"text","content":" Toronto, Ontario--(Newsfile Corp. - January 22, 2026) - ATERRA Metals Inc. (CSE: ATC) (OTCQB: CSSCF) (\"ATERRA\" or the \"Company\") is pleased to announce the closing of a non-brokered private placement financing for aggregate gross proceeds of $2,780,000 (the \"Offering\"). Insiders and consultants of the Company purchased 13% of the Offering. Research Capital Corporation acted as the exclusive finder. The Offering consisted of the issuance of 139 million units (each, a \"Unit\") at a price of $0.02 per Unit, with each Unit comprised of one (1) common share of the Company (each, a \"Share\") and one-half (1/2) warrant (each whole warrant, a \"Warrant\"). Each Warrant entitles the holder thereof to acquire one (1) Share from the Company at a price of $0.05 per Share for a period of thirty-six (36) months. The securities issued pursuant to the Offering are subject to a statutory hold period of four (4) months and one (1) day from the closing date of the Offering, unless otherwise exempt under applicable Canadian securities laws. The Company intends to use the net proceeds from the Offering to fund option payments and exploration activities on the numerous copper-gold porphyries identified on its Clinton, Taruca and Frontera properties, collectively the Totora Properties (see ATERRA news release dated November 20, 2025), as well as for working capital requirements and other general corporate purposes. ATERRA plans to commence exploration activities, including mapping and geophysical surveys, shortly in preparation for a Phase I drill program to commence during the current fiscal quarter. \"We are very thankful for the tremendous support received for this financing, not only from those who participated but from our shareholders as well,\" said Carl Hansen, ATERRA's CEO. \"With the financing closed, we will start exploring the Totora Properties, which host at least four previously drilled copper-gold porphyries including the Frontera Deposit. Considering the significant historical drilling completed on the Totora Properties, our focus will be on infill and expansion drilling in preparation for publishing a NI 43-101-compliant resource estimate during the third quarter 2026.\" A director and an officer of the Company purchased an aggregate of 6,750,000 Units under the Offering and, as a result, the Offering is considered a related ...