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Magna Terra Announces Upsize to Premium Flow-Through Private Placement
Toronto, Ontario--(Newsfile Corp. - August 11, 2025) - Magna Terra Minerals Inc .  (TSXV: M...
About this update from Magna Terra Minerals Inc
[{"type":"text","content":"Magna Terra Announces Upsize to Premium Flow-Through Private PlacementToronto, Ontario--(Newsfile Corp. - August 11, 2025) - Magna Terra Minerals Inc. (TSXV: MTT) (the \"Company\" or \"Magna Terra\") is pleased to announce that due to significant investor interest, it has upsized its previously announced premium flow-through financing (the \"Offering\") (refer to the news release dated July 31, 2025) by $1,000,000 for total gross proceeds of $2,000,000. The fully subscribed Offering will now consist of an issuance of premium flow-through common shares of the Company at a price of $0.135 per share for a total issuance of 14,814,812 premium flow-through common shares. Of note, the Company is pleased that Mr. Michael Gentile, its largest shareholder (19.2%) will be participating in the Offering.The gross proceeds from the issuance of the premium flow-through common shares will be used to incur \"Canadian exploration expenses\" that qualify as \"flow-through critical mineral mining expenditures\" (as such terms are defined in the Income Tax Act (Canada)) related to the Company's mineral exploration projects, primarily for preliminary exploration programs at the Company's recently acquired Humber Project in western Newfoundland and Rocky Brook Project in northern New Brunswick. The Company expects that an insider of the Company will be participating in the Offering. Insider subscriptions are considered to be a \"related party transaction\" for purposes of Multilateral Instrument 61-101 - Protection of Minority Security Holders in Special Transactions (\"MI 61-101\"). The Company is relying on exemptions from the formal valuation and minority shareholder approval requirements available under MI 61-101 as (i) the Company's securities are not listed on any stock exchange identified in Section 5.7(b) of MI 61-101; and (ii) neither the fair market value of the common shares to be distributed in the Offering nor the consideration to be received by the Company for the common shares, insofar as insider participation is concerned, exceeds $2,500,000.In connection with the Offering, the Company may pay finder's fees in cash or securities or a combination of both, as permitted by the policies of the TSX Venture Exchange. All securities issued pursuant to the Offering will be subject to a regulatory four month and one day hold per...