Canterra Minerals Announces Brokered Private Placement for Gross Proceeds of up to C$3.0 Million
Canterra Minerals has announced a brokered private placement targeting gross proceeds of up to C$3.0 million. The offering includes Units at C$0.10 each (minimum sale of 5,000,000 Units) and Flow-Through Shares at C$0.12 each. Each Unit consists of one common share and half a warrant, with each whole warrant exercisable at C$0.15 for 36 months.
Red Cloud Securities will act as sole agent and bookrunner, with an option to sell additional C$500,000 in securities. Proceeds will fund exploration in central Newfoundland and working capital. The Flow-Through Share proceeds will qualify as flow-through critical mineral mining expenditures, to be incurred by December 31, 2025. The offering is expected to close around December 19, 2024, subject to TSXV approval.
Canterra Minerals ha annunciato un collocamento privato tramite un intermediario, con l'obiettivo di raccogliere proventi lordi fino a C$3,0 milioni. L'offerta include Unità al prezzo di C$0,10 ciascuna (vendita minima di 5.000.000 Unità) e Azioni Flusso al prezzo di C$0,12 ciascuna. Ogni Unità è composta da un'azione comune e da mezzo warrant, con ogni warrant intero esercitabile a C$0,15 per 36 mesi.
Red Cloud Securities agirà come unico agente e bookrunner, con la possibilità di vendere ulteriori C$500.000 in titoli. I proventi finanzieranno l'esplorazione nel centro di Terranova e il capitale circolante. I proventi delle Azioni Flusso qualificheranno come spese minerarie critiche in flusso, che dovranno essere sostenute entro il 31 dicembre 2025. Si prevede che l'offerta si chiuda intorno al 19 dicembre 2024, soggetta all'approvazione del TSXV.
Canterra Minerals ha anunciado una colocación privada intermediada con el objetivo de recaudar ingresos brutos de hasta C$3,0 millones. La oferta incluye Unidades a C$0,10 cada una (venta mínima de 5.000.000 Unidades) y Acciones Flujo a C$0,12 cada una. Cada Unidad consiste en una acción común y la mitad de un warrant, con cada warrant completo ejercitable a C$0,15 durante 36 meses.
Red Cloud Securities actuará como único agente y bookrunner, con una opción para vender C$500.000 adicionales en valores. Los ingresos se destinarán a la exploración en el centro de Terranova y al capital de trabajo. Los ingresos de las Acciones Flujo calificarán como gastos mineros críticos en flujo, que deben incurrirse antes del 31 de diciembre de 2025. Se espera que la oferta cierre alrededor del 19 de diciembre de 2024, sujeta a la aprobación de TSXV.
Canterra Minerals는 최대 C$3.0백만 규모의 브로커가 주관하는 사모 placement를 발표했습니다. 이 제안은 각각 C$0.10인 유닛(최소 판매 5,000,000 유닛)과 C$0.12인 플로우 스루 주식으로 구성됩니다. 각 유닛은 한 주식과 반 개의 워런트로 구성되며, 전체 워런트는 36개월 동안 C$0.15에 행사할 수 있습니다.
Red Cloud Securities는 단독 에이전트 및 북러너로 활동하며, 추가로 C$500,000의 증권을 판매할 수 있는 옵션을 제공합니다. 수익금은 뉴펀들랜드 중부의 탐사 및 운영 자본에 사용됩니다. 플로우 스루 주식의 수익금은 2025년 12월 31일까지 발생해야 하는 플로우 스루 핵심 광물 채굴 경비로 인정됩니다. 이번 제안은 2024년 12월 19일경에 마감될 것으로 예상되며, TSXV의 승인을 받습니다.
Canterra Minerals a annoncé une placement privé avec courtage visant à générer des produits bruts jusqu'à C$3,0 millions. L'offre comprend des Unités à C$0,10 chacune (vente minimale de 5.000.000 d’Unités) et des Actions de Passation à C$0,12 chacune. Chaque Unité se compose d'une action ordinaire et d'une demi-options de souscription, chaque option entière pouvant être exercée à C$0,15 durant 36 mois.
Red Cloud Securities agira en tant qu'agent unique et bookrunner, avec l'option de vendre des titres supplémentaires de C$500.000. Les produits financeront l'exploration au centre de Terre-Neuve et le fonds de roulement. Les produits des Actions de Passation seront considérés comme des dépenses liées à l'exploitation minière de minéraux critiques, devant être engagées d'ici le 31 décembre 2025. On s'attend à ce que l'offre se clôture vers le 19 décembre 2024, sous réserve de l'approbation de la TSXV.
Canterra Minerals hat eine vermittelte Privatplatzierung angekündigt, die darauf abzielt, brutto Einnahmen von bis zu C$3,0 Millionen zu generieren. Das Angebot umfasst Einheiten zu je C$0,10 (Mindestverkauf von 5.000.000 Einheiten) und Fluss-Aktien zu je C$0,12. Jede Einheit besteht aus einer Stammaktie und einem halben Warrant, wobei jeder gesamte Warrant für 36 Monate zu C$0,15 ausgeübt werden kann.
Red Cloud Securities wird als alleiniger Agent und Bookrunner fungieren, mit der Option, zusätzliche C$500.000 in Wertpapieren zu verkaufen. Die Einnahmen werden die Exploration im zentralen Neufundland und das Betriebskapital finanzieren. Die Einnahmen aus den Fluss-Aktien qualifizieren sich als entscheidende mineralische Bergbauausgaben, die bis zum 31. Dezember 2025 angefallen sein müssen. Es wird erwartet, dass das Angebot rund um den 19. Dezember 2024 abgeschlossen wird, vorbehaltlich der Genehmigung durch die TSXV.
- Raising up to C$3.0 million in new capital
- Additional C$500,000 option available through agent
- 36-month warrants provide potential future funding at C$0.15 per share
- Potential dilution for existing shareholders through new share issuance
- Minimum requirement of C$500,000 from Unit sales must be met
Vancouver, British Columbia--(Newsfile Corp. - December 4, 2024) - Canterra Minerals Corporation (TSXV: CTM) (OTCQB: CTMCF) ("Canterra" or the "Company") is pleased to announce that the Company has entered into an agreement with Red Cloud Securities Inc. (the "Agent") to act as sole agent and bookrunner in connection with a "best efforts" private placement (the "Offering") for aggregate gross proceeds of up to C
Each Unit will consist of one common share of the Company (each, a "Unit Share") and one half of one common share purchase warrant (each whole warrant, a "Warrant"). Each whole Warrant shall entitle the holder to purchase one common share of the Company (each, a "Warrant Share") at a price of C
The Agent will have an option, exercisable in full or in part, up to 48 hours prior to the closing of the Offering, to sell up to an additional C
The Company intends to use the net proceeds from the Offering for the exploration of the Company's projects in central Newfoundland as well as for working capital and general corporate purposes. The gross proceeds from the issuance of the FT Shares will be used for Canadian exploration expenses and will qualify as "flow-through critical mineral mining expenditures", as defined in subsection 127(9) of the Income Tax Act (the "Qualifying Expenditures"), which will be incurred on or before December 31, 2025 and renounced to the subscribers of the FT Shares with an effective date no later than December 31, 2024 in an aggregate amount not less than the gross proceeds raised from the issue of the FT Shares. If the Qualifying Expenditures are reduced by the Canada Revenue Agency, the Company will indemnify each subscriber of FT Shares for any additional taxes payable by such subscriber as a result of the Company's failure to renounce the Qualifying Expenditures as agreed.
The Offering is scheduled to close on or around December 19, 2024, or such other date as the Company and the Agent may agree, and is subject to certain conditions including, but not limited to, receipt of all necessary approvals including the approval of the TSX Venture Exchange (the "TSXV"). The Unit Shares, FT Shares and Warrant Shares will be subject to a hold period ending on the date that is four months plus one day following the closing date of the Offering under applicable Canadian securities laws.
The Offered Securities have not been, nor will they be, registered under the United States Securities Act of 1933, as amended (the "Securities Act") or any state securities laws, and may not be offered or sold to, or for the account or benefit of, any person in the United States or any "U.S. person", as such term is defined in Regulation S under the Securities Act, absent registration or an applicable exemption from registration requirements. This news release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any state in which such offer, solicitation or sale would be unlawful.
About Canterra Minerals
Canterra is a diversified minerals exploration company focused on critical minerals and gold in central Newfoundland. The Company's projects include six mineral deposits located in close proximity to the world renowned, past producing Buchans mine and Teck Resources' Duck Pond mine that collectively produced copper, zinc, lead, silver and gold. Several of Canterra's deposits support current and historical Mineral Resource Estimates prepared in accordance with National Instrument 43-101 and the Canadian Institute of Mining, Metallurgy, and Petroleum Definition Standards for Mineral Resources and Mineral Reserves current at their respective effective dates. Canterra's gold projects are located on-trend of Calibre Mining's Valentine mine currently under construction and cover a ~60 km extension of the same structural corridor that hosts mineralization within Calibre's mine project. Past drilling by Canterra and others within the Company's gold projects intersected multiple occurrences of orogenic style gold mineralization within a large land position that remains underexplored.
ON BEHALF OF THE BOARD OF CANTERRA MINERALS CORPORATION
Chris Pennimpede
President & CEO
Additional information about the Company is available at www.canterraminerals.com
For further information, please contact: +1 (604) 687-6644
Email: info@canterraminerals.com
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Cautionary Note Regarding Forward-Looking Information
This press release contains statements that constitute "forward-looking information" (collectively, the "forward-looking statements") within the meaning of the applicable Canadian securities legislation, including statements with respect to the expected gross proceeds of the Offering, the use of proceeds of the Offering, the expected closing date of the Offering and the Offering being subject to acceptance by the TSXV. All statements, other than statements of historical fact, are forward-looking statements and are based on expectations, estimates and projections as at the date of this news release. Any statement that discusses predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as "expects", or "does not expect", "is expected", "anticipates" or "does not anticipate", "plans", "budget", "scheduled", "forecasts", "estimates", "believes" or "intends" or variations of such words and phrases or stating that certain actions, events or results "may" or "could", "would", "might" or "will" be taken to occur or be achieved) are not statements of historical fact and may be forward-looking statements. Consequently, there can be no assurances that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Except to the extent required by applicable securities laws and the policies of the TSXV, the Company undertakes no obligation to update these forward-looking statements if management's beliefs, estimates or opinions, or other factors, should change. Factors that could cause future results to differ materially from those anticipated in these forward-looking statements include risks associated possible accidents and other risks associated with mineral exploration operations, the risk that the Company will encounter unanticipated geological factors, the possibility that the Company may not be able to secure permitting and other governmental clearances necessary to carry out the Company's exploration plans, the risk that the Company will not be able to raise sufficient funds to carry out its business plans, and the risk of political uncertainties and regulatory or legal changes that might interfere with the Company's business and prospects.; the business and operations of the Company; unprecedented market and economic risks associated with current market and economic circumstances, as well as those risks and uncertainties identified and reported in the Company's public filings under its SEDAR+ profile at www.sedarplus.ca. Accordingly, readers should not place undue reliance on the forward-looking statements and information contained in this press release. Except as required by law, the Company disclaims any intention and assumes no obligation to update or revise any forward-looking statements to reflect actual results, whether as a result of new information, future events, changes in assumptions, changes in factors affecting such forward-looking statements or otherwise.
NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN THE UNITED STATES.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/232429
FAQ
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