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Canterra Minerals Announces Financing of up to $800K Non-Brokered Private Placement
Vancouver, British Columbia--(Newsfile Corp. - November 29, 2023) - Canterra Minerals Corporatio...
About this update from Canterra Minerals Corporation
[{"type":"text","content":"Canterra Minerals Announces Financing of up to $800K Non-Brokered Private PlacementVancouver, British Columbia--(Newsfile Corp. - November 29, 2023) - Canterra Minerals Corporation (TSXV: CTM) (OTCQB: CTMCF) (\"Canterra\" or the \"Company\") is pleased to announce a proposed non-brokered private placement financing (the \"Financing\") of up to a maximum of 12,307,692 shares comprised of critical mineral exploration tax credit (\"CMETC\") flow-through (\"FT\") common shares at a price of $0.065 per FT share for a maximum aggregate proceeds of up to C$800,000. Subject to compliance with applicable securities laws and the approval of the TSX Venture Exchange, finders' fees may be payable to eligible arm's length persons with respect to certain subscriptions accepted by the Company.President and CEO, Christopher Pennimpede, commented, \"After analyzing the extensive historic exploration data for Lemarchant, and generating new drilling targets, we are excited to get out and commence drilling. This drill program is designed with the intention of intersecting massive sulfide and high-grade zinc equivalent, which this project is renowned for, in 2024.\"The proceeds of the Financing will be used to fund further exploration programs including drilling on the Company's resource stage critical minerals deposits in central Newfoundland, including drilling at its Boomerang and Lemarchant projects. Closing of the Offering is subject to receipt of applicable regulatory approvals including the approval of the TSX Venture Exchange. The securities issued will be subject to a four month hold period.About Canterra MineralsCanterra Minerals is a diversified minerals exploration company with a focus on critical minerals (zinc and copper) in central Newfoundland. Canterra's critical metals projects include four deposits which host compliant resources with considerable exploration potential. The deposits are located in close proximity to Teck Resources' past producing Duck Pond mine and the past producing Buchans Mine. The deposits host a combined complaint resource of 4.1 million tonnes of Indicated Resources and 1.2 million tonnes of Inferred Resources. See the NI 43-101 Technical Report \"Lemarchant and South Tally Project, Technical Report and Updated Mineral Resource Estimate\" effective September 20, 2018. In addition, Canterra holds exploration s...