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Canterra Minerals Announces Strategic Investment by Eric Sprott as Part of $2.7 Million Non-Brokered Private Placement
Vancouver, British Columbia--(Newsfile Corp. - June 8, 2021) - Canterra Minerals Corporation ...
About this update from Canterra Minerals Corporation
[{"type":"text","content":"Canterra Minerals Announces Strategic Investment by Eric Sprott as Part of $2.7 Million Non-Brokered Private PlacementVancouver, British Columbia--(Newsfile Corp. - June 8, 2021) - Canterra Minerals Corporation (TSXV: CTM) (OTCQB: CTMCF) (\"Canterra\" or the \"Company\") is pleased to announce a non-brokered private placement to raise total gross proceeds of approximately $2.7 million (the \"Offering\"). The Offering will consist of 13,581,000 units of the Company (the \"Units\") at a price of $0.20 per Unit.The Company is pleased to announce that Eric Sprott has agreed to purchase $2.6 million of the Offering. On completion of the Offering, Eric Sprott will own ~19.9% of Canterra on a basic shares outstanding basis.Each Unit will consist of one common share of the Company (a \"Common Share\") and one-half of one Common Share purchase warrant (each full warrant, a \"Warrant\"). Each Warrant will entitle the holder to acquire one Common Share at an exercise price of $0.30 for a period of 24 months following the closing of the Offering.The net proceeds from the Offering will be used for general exploration and working capital and corporate purposes.The Offering is scheduled to close on or about June 29, 2021, and is subject to certain conditions including, but not limited to, the receipt of all necessary regulatory and other approvals including the approval of the TSX Venture Exchange.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 earning a 100% interest in 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 243km2 property package includes 50km of the northeastern strike-extension of the Rogerson La...