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Canterra Minerals Announces Increase of Non-Brokered Private Placement
Vancouver, British Columbia--(Newsfile Corp. - December 18, 2023) - Canterra Minerals Corporatio...
About this update from Canterra Minerals Corporation
[{"type":"text","content":"Canterra Minerals Announces Increase of Non-Brokered Private PlacementVancouver, British Columbia--(Newsfile Corp. - December 18, 2023) - Canterra Minerals Corporation (TSXV: CTM) (OTCQB: CTMCF) (\"Canterra\" or the \"Company\") is pleased to announce that it has increased the size of its previously announced non-brokered private placement financing (the \"Financing\") (see news release dated November 29, 2023 and December 12, 2023) of up to a maximum of 23,846,153 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$1,550,000. 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.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 stage gold properties that cover 80 km of strike length of the regional gold bearing Rogerson Lake structural corridor which hosts Marathon Gold Corporation's feasibility stage Valentine Lake Gold Project. The gold projects have been subject to four drilling campaigns, dem...