Business
Canterra Closes First Tranche of Private Placement and Extends Financing
VANCOUVER, BRITISH COLUMBIA--(Marketwired - Oct. 20, 2015) - NOT FOR DISTRIBUTION TO US NEWS WIRE SERVICES OR FOR DISSEMINATON INTO THE USA Canterra Minerals Co
About this update from Canterra Minerals Corporation
[{"type":"text","content":" VANCOUVER, BRITISH COLUMBIA--(Marketwired - Oct. 20, 2015) - NOT FOR DISTRIBUTION TO US NEWS WIRE SERVICES OR FOR DISSEMINATON INTO THE USA Canterra Minerals Corporation (TSX VENTURE:CTM) (the \"Company\" or \"Canterra\") announces, further to its news releases dated, July 8, August 21 and September 18, 2015 that it has closed the first tranche of its non-brokered private placement for total gross proceeds of $500,000 from the sale of 2,738,096 flow-through share units (\"Flow-Through Units\") at a price of $0.08 per Flow-Through Unit and 4,682,547 common share units (\"Common Share Units\") at a price of $0.06 per Common Share Unit. The Flow-Through Units and Common Share Units are collectively referred to herein as the \"Offering\". In addition, the Company has extended the closing of its financing to November 18, 2015. Each Flow-Through Unit consists of one flow-through common share and one-half of one common share warrant (\"Non Flow-Through Warrant\"), with each such whole warrant entitling the holder there to acquire one non flow-through common share of the Company at a price of $0.10 per common share until October 19, 2017. In the event the common shares trade at a closing price on the TSX Venture Exchange (the \"TSX-V\") of greater than $0.15 per common share during any twenty (20) consecutive trading-day period at any time after the expiry of the four month hold period, the Company may accelerate the Non Flow-Through Warrant Expiry Date by giving notice to the holders thereof and in such case the Non Flow-Through Warrants will expire on the twenty-first (21) business day after the date on which such notice given to the holders by the Company. Each Common Share Unit consists of one common share of the Company (a \"Common Share\") and one-half of one common share warrant (\"Common Share Warrant\"), with each whole warrant entitling the holder thereof to acquire one Common Share at a price of $0.08 per Common Share until October 19, 2017. In the event the Common Shares trade at a closing price on the TSX-V of greater than $0.15 per Common Share during any twenty (20) consecutive trading-day period at any time after the expiry of the four month hold period, the Company may accelerate the Common Share Warrant Expiry Date by giving notice to the holders thereof and in such case the Common Share Warrants will expire on the tw...