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Canterra Minerals Announces Closing of $2.0 Million Private Placement Led by Michael Gentile and Other Strategic Investors to Fund Gold Exploration in Newfoundland
NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN THE UNITED STATES. VANC...
About this update from Canterra Minerals Corporation
[{"type":"text","content":"Canterra Minerals Announces Closing of $2.0 Million Private Placement Led by Michael Gentile and Other Strategic Investors to Fund Gold Exploration in Newfoundland\n\n\n\n\n NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN THE UNITED STATES.\n \n\n\n VANCOUVER, British Columbia, Oct. 28, 2025 (GLOBE NEWSWIRE) --\n \n Canterra Minerals Corporation (TSXV:CTM) (OTCQB: CTMCF) (FSE:DXZB)\n \n (“Canterra” or the “Company”) is pleased to announce the closing of its previously announced a non-brokered private placement (the “Private Placement”) led by strategic investors, including Michael Gentile, one of Canterra’s largest shareholders and a leader in Canadian resource investing (see news release dated\n \n October 7, 2025\n \n ). Pursuant to the Private Placement, the Company issued 16,700,000 units (the “Units”), at a price of $0.12 per Unit for gross proceeds of $2,004,000.\n \n\n Each Unit consists of one common share (a “Share”) and one half of one common share purchase warrant (each whole warrant a “Warrant”) of the Company. One Warrant entitles the holder to purchase one Share of the Company at a price of $0.20 for 12 months following the closing date of the Private Placement.\n \n\n The Company intends to use the net proceeds from the Private Placement to drill its exploration stage Wilding Gold project in the central Newfoundland Mining District adjoining Equinox Gold’s Valentine Mine and for general working capital purposes.\n \n\n\n “The closing of this financing positions Canterra to immediately mobilize a drill rig to the Wilding Gold Project, where we have multiple high-grade, drill-ready gold targets. With three rigs active across two flagship projects in the Central Newfoundland Mining District, we’re maximizing our discovery potential and accelerating our exploration momentum,” said Chris Pennimpede, CEO of Canterra Minerals.\n \n\n\n All figures are in Canadian dollars. No finders’ fees were paid on Private Placement. The Unit Shares and Warrant Shares are subject to a hold period ending on March 1, 2026, pursuant to applicable Canadian securities laws.\n \n\n Cairn Merchant Partners LP, a company controlled by Canterra Chairman and Director Andrew Farncomb, purchased 1,294,9...