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Oreterra Announces Closing of $9.3 Million First Tranche of Oversubscribed and Upsized $9.7 Million Non-Brokered Private Placement, Second Tranche to Close March 4
Toronto, Ontario--(Newsfile Corp. - March 2, 2026) - Oreterra Metals Corp. (TSXV: OTMC) (OT...
About this update from Oreterra Metals Corp.
[{"type":"text","content":"Oreterra Announces Closing of $9.3 Million First Tranche of Oversubscribed and Upsized $9.7 Million Non-Brokered Private Placement, Second Tranche to Close March 4Toronto, Ontario--(Newsfile Corp. - March 2, 2026) - Oreterra Metals Corp. (TSXV: OTMC) (OTCID: OTMCF) (OTCID: RMIOD) (FSE: D4R0) (WKN: A421RQ) (\"Oreterra\" or the \"Company\") is pleased to announce that, further to its press releases of February 10, 2026, February 12, 2026, February 18, 2026 and February 19, 2026, it has closed the first tranche of its oversubscribed and upsized non-brokered private placement with the placement of 12,068,332 hard-dollar units (\"HD Units\") of the Company at a price of $0.45 per HD Unit for gross proceeds of $5.43M and the placement of 7,708,000 flow-through units (\"FT Units\") at a price of $0.50 per FT Unit for gross proceeds of $3.85M (collectively, the \"First Closing\"). A second closing of the private placement, bringing gross proceeds to $9.7M, is scheduled for March 4, 2026.\"The fact that this financing has attracted the extraordinary level of interest that it has, is a testament to the strength of Trek South as a porphyry copper-gold discovery prospect and the strong resurgence of market interest in such prospects,\" said Kevin Keough, CEO. \"More than 115 separate investors participated, 83% of whom are new to the Company, including major funds who as a group will now own approximately 25% of the Company on a fully diluted basis, and resource-knowledgeable investors from as far afield as Europe and Australia. Moreover, we also achieved exposure to most of the major mining-focused brokerage firms in the country. All of this has broadened awareness of Oreterra and its prospects as we advance, now fully financed, toward the first-ever drilling of Trek South this summer.\"Offering Details:The non-brokered private placement is now for aggregate gross proceeds of up to $9,684,000 through the issuance of a combination of $5,500,000 in hard-dollar units (\"HD Units\") of the Company at a price of $0.45 per HD Unit and $4,184,000 in flow-through units (\"FT Units\") at a price of $0.50 per FT Unit (collectively, the \"Offering\"). Each HD Unit, priced at $0.45, comprises one (1) common share of the Company and one (1) common share purchase warrant (each a \"HD Warrant\"). Each HD Warrant entitles the holder to acqu...