Magna Terra Announces $450,000 Premium Flow-Through Private Placement

About this update from Magna Terra Minerals Inc

Magna Terra Announces $450,000 Premium Flow-Through Private PlacementTORONTO, ON / ACCESS Newswire / January 22, 2025 / Magna Terra Minerals Inc. (the "Company" or "Magna Terra") (TSXV:MTT) is pleased to announce that, subject to all regulatory approvals, the Company intends to complete a non-brokered premium flow-through private placement of minimum gross proceeds of $450,000 (the "Offering").The Offering will consist of an issuance of premium flow-through common shares of the Company at a price of $0.09 per share for a total issuance of 5,000,000 premium flow-through common shares. Of note, the Company is pleased that Mr. Michael Gentile, it's largest shareholder (19.9%) will be participating in the Offering to his pro-rata ownership interest.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.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 period. The Offering is subject to approval by the TSX Venture Exchange.About Magna TerraMagna Terra Minerals Inc. is a precious and critical metals focused exploration company, headquartered in Toronto, Canada. Magna Terra is focused on acquiring and advancing its high-potential mineral projects in Atlantic Canada and Argentina while generating value for shareholders and minimizing shareholder dilution through option and joint venture partnerships where appropriate; leveraging our ability to explore, grow, and transact projects. The Company is focused on exploring our 100%-owned Humber Copper-Cobalt Project in Newfoundland and Labrador, our 100% owned Rocky Brook Project in northern New Brunswick, as well as our 100%-owned Cape Spencer Gold Project in southern New Brunswick. In addition, the Company has recently optioned the Great Northern Project in Newfoundland...

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