Business
Canterra Minerals Announces Non-Brokered Private Placement
(In Canadian Dollars unless otherwise stated) Vancouver, British Columbia--(Newsfile Corp. - ...
About this update from Canterra Minerals Corporation
[{"type":"text","content":"Canterra Minerals Announces Non-Brokered Private Placement(In Canadian Dollars unless otherwise stated)Vancouver, British Columbia--(Newsfile Corp. - December 9, 2021) - Canterra Minerals Corporation (TSXV: CTM) (\"Canterra\" or the \"Company\") is pleased to announce a non-brokered private placement of up to 3,333,333 flow-through common shares of the Company (the \"Flow-Through Shares\") at a price of $0.30 per Flow-Through Share for gross proceeds of up to approximately $1.0 million (the \"Offering\"). The gross proceeds from the Offering will be used for exploration expenses on the Company's mineral properties in Newfoundland, which will qualify as \"Canadian Exploration Expenses\" and \"flow-through mining expenditures\", as those terms are defined in the Income Tax Act (Canada), which will be renounced to the initial purchasers of the Flow-Through Shares with an effective date no later than December 31, 2021. The Offering is scheduled to close on or about December 31, 2021 and is subject to the satisfaction of certain conditions including, but not limited to, the receipt of all necessary regulatory and other approvals including the acceptance of the TSX Venture Exchange (the \"TSXV\"). A cash commission may be paid to eligible finders in accordance with the TSXV policies. All securities issued pursuant to the Offering will be subject to a hold period of four months and one day from the date of closing. This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the \"U.S. Securities Act\"), or any state securities laws and may not be offered or sold within the United States or to or for the account or benefit of a U.S. person (as defined in Regulation S under the U.S. Securities Act) unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.About Canterra MineralsCanterra is advancing the Wilding and Noel Paul Gold Projects, located 50km south, by logging road, from Millertown and directly northeast of Marathon Gold's Valentine Lake Gold Project in central Newfoundland. The 357km2 property package includes 50km of the northeastern strike-extension of the Ro...