Gold Terra Announces Non-Brokered Flow-Through Financing
Gold Terra Resource Corp (YGTFF) has announced a non-brokered private placement offering of up to 3 million flow-through common shares at $0.06 per share, aiming to raise up to $180,000 from three long-term shareholders/insiders. The company plans to close this offering along with a previously announced charity flow-through on December 16, 2024. The proceeds will be used for exploration drilling on the Con Mine Option property in the Northwest Territories. The qualifying expenditures must be incurred by December 31, 2025, and will be renounced in favor of subscribers effective December 31, 2024. All securities are subject to a four-month hold period.
Gold Terra Resource Corp (YGTFF) ha annunciato un'offerta di collocamento privato non intermediazione fino a 3 milioni di azioni ordinarie in flow-through a $0,06 per azione, mirando a raccogliere fino a $180,000 da tre azionisti/insider di lungo termine. L'azienda prevede di chiudere questa offerta insieme a un precedente flow-through benefico annunciato il 16 dicembre 2024. I proventi saranno utilizzati per la perforazione di esplorazione sulla proprietà Con Mine Option nei Territori del Nord-Ovest. Le spese ammissibili devono essere sostenute entro il 31 dicembre 2025 e saranno rinunciate a favore degli abbonati con effetto dal 31 dicembre 2024. Tutti i titoli sono soggetti a un periodo di blocco di quattro mesi.
Gold Terra Resource Corp (YGTFF) ha anunciado una oferta de colocación privada no intermediada de hasta 3 millones de acciones comunes flow-through a $0,06 por acción, con el objetivo de recaudar hasta $180,000 de tres accionistas/insiders a largo plazo. La compañía planea cerrar esta oferta junto con un flow-through benéfico previamente anunciado el 16 de diciembre de 2024. Los ingresos se utilizarán para la perforación de exploración en la propiedad Con Mine Option en los Territorios del Noroeste. Los gastos considerados deben incurrirse antes del 31 de diciembre de 2025, y serán renunciados a favor de los suscriptores a partir del 31 de diciembre de 2024. Todos los valores están sujetos a un periodo de bloqueo de cuatro meses.
Gold Terra Resource Corp (YGTFF)는 3백만 개의 유상 전환주식을 주당 $0.06에 비중개 형태로 사모 배정하겠다고 발표했으며, 이를 통해 3명의 장기 주주/내부자로부터 최대 $180,000을 모금할 계획입니다. 회사는 2024년 12월 16일에 이전에 발표된 자선 기부금 전환과 함께 이 제안을 마감할 계획입니다. 수익금은 북서 준주에 있는 Con Mine Option 부지의 탐사 굴착에 사용될 것입니다. 자격이 있는 지출은 2025년 12월 31일 이전에 발생해야 하며, 2024년 12월 31일부터 구독자에게 양도됩니다. 모든 증권은 4개월의 보유 기간이 적용됩니다.
Gold Terra Resource Corp (YGTFF) a annoncé une offre de placement privé non intermédié allant jusqu'à 3 millions d'actions ordinaires en flow-through à 0,06 $ par action, visant à lever jusqu'à $180,000 auprès de trois actionnaires/investisseurs de longue date. La société prévoit de clôturer cette offre avec un flow-through caritatif précédemment annoncé le 16 décembre 2024. Les fonds seront utilisés pour des forages d'exploration sur la propriété Con Mine Option dans les Territoires du Nord-Ouest. Les dépenses éligibles doivent être engagées avant le 31 décembre 2025 et seront renoncées en faveur des abonnés à compter du 31 décembre 2024. Tous les titres sont soumis à une période de blocage de quatre mois.
Gold Terra Resource Corp (YGTFF) hat eine nicht vermittelte Privatplatzierungsangebot von bis zu 3 Millionen Flow-Through-Stammaktien zu je 0,06 $ pro Aktie angekündigt, mit dem Ziel, bis zu $180,000 von drei langfristigen Aktionären/Insidern zu sammeln. Das Unternehmen plant, dieses Angebot zusammen mit einem previously announced charity flow-through am 16. Dezember 2024 abzuschließen. Die Einnahmen sollen für Erkundungsbohrungen auf dem Con Mine Option Grundstück in den Nordwest-Territorien verwendet werden. Die qualifizierten Ausgaben müssen bis zum 31. Dezember 2025 anfallen und werden ab dem 31. Dezember 2024 zugunsten der Abonnenten abgelehnt. Alle Wertpapiere unterliegen einer Sperrfrist von vier Monaten.
- Secured commitment from long-term shareholders for additional funding
- Flow-through structure provides tax benefits to investors
- Small financing size of only $180,000 indicates scope
- Share issuance at $0.06 represents potential dilution
- Reliance on insider funding suggests possible external investor interest
This news release is not intended for distribution to United States newswire services or dissemination in the United States
VANCOUVER, BC / ACCESSWIRE / December 11, 2024 / Gold Terra Resource Corp. (TSXV:YGT)(Frankfurt:TX0)(OTCQB:YGTFF) ("Gold Terra" or the "Company") announces that it proposes to undertake a non-brokered private placement (the "Offering") of up to 3 million flow-through common shares of the Company (the "FT Shares") at a price of
Insiders of Gold Terra are participating in the Offering. Such participation in the Offering constitutes a "related party transaction" as defined in Multilateral Instrument 61-101 - Protection of Minority Security Holders in Special Transactions ("61-101"). The Offering is exempt from the formal valuation and minority shareholder approval requirements of 61-101 as neither the fair market value of the securities issued to related parties nor the consideration for such securities exceed
All securities are subject to a four-month hold period from the date of closing.
The proceeds from the FT Shares will be used for exploration expenditures for drilling on the Con Mine Option property.
The Company will use an amount equal to the gross proceeds from the sale of FT Shares, pursuant to the provisions in the Tax Act, to incur eligible "Canadian exploration expenses" that qualify as "flow-through mining expenditures" as both terms are defined in the Tax Act (the "Qualifying Expenditures") related to the Company's projects in the Northwest Territories, on or before December 31, 2025, and to renounce all the Qualifying Expenditures in favor of the subscribers of the FT Shares effective December 31, 2024. If the Qualifying Expenditures are reduced by the Canada Revenue Agency, the Company will indemnify each FT Share subscriber for any additional taxes payable by such subscriber as a result of the Company's failure to renounce the Qualifying Expenditures as agreed.
This news release does not constitute an offer to sell or a solicitation of an offer to sell 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 U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.
About Gold Terra
The Yellowknife Project (YP) encompasses 918 sq. km of contiguous land immediately north, south and east of the City of Yellowknife in the Northwest Territories. Through a series of acquisitions, Gold Terra controls one of the six major high-grade gold camps in Canada. Being within 10 kilometres of the City of Yellowknife, the YP is close to vital infrastructure, including all-season roads, air transportation, service providers, hydro-electric power, and skilled tradespeople. Gold Terra is currently focusing its drilling on the prolific Campbell Shear, where approximately 14 Moz of gold has been produced, (refer to Gold Terra Oct 21, 2022, Technical Report) and most recently on the Con Mine Option (CMO) property claims immediately south of the past producing Con Mine which produced 6.1 Moz between the Con, Rycon, and Campbell shear structures (1938-2003).
The YP and CMO properties lie on the prolific Yellowknife greenstone belt, covering nearly 70 kilometres of strike length along the main mineralized shear system that hosts the former-producing high-grade Con and Giant gold mines. The Company's exploration programs have successfully identified significant zones of gold mineralization and multiple targets that remain to be tested which reinforces the Company's objective of re-establishing Yellowknife as one of the premier gold mining districts in Canada.
Visit our website at www.goldterracorp.com.
For more information, please contact:
Gerald Panneton, Chairman & CEO
gpanneton@goldterracorp.com
Mara Strazdins, Investor Relations
Phone: 1-778-897-1590 | 604-689-1749 ext 102
strazdins@goldterracorp.com
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Cautionary Note Regarding Forward-Looking Information
Certain statements made and information contained in this news release constitute "forward-looking information" within the meaning of applicable securities legislation ("forward-looking information"). Generally, this forward-looking information can, but not always, be identified by use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or statements that certain actions, events, conditions or results "will", "may", "could", "would", "might" or "will be taken", "occur" or "be achieved" or the negative connotations thereof.
All statements other than statements of historical fact may be forward-looking information. Forward-looking information is necessarily based on estimates and assumptions that are inherently subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking information. In particular, this news release contains forward-looking information regarding the expected closing date of the Offering and use of proceeds from the Offering, and the Company's objective of re-establishing Yellowknife as one of the premier gold mining districts in Canada.
There can be no assurance that such statements will prove to be accurate, as the Company's actual results and future events could differ materially from those anticipated in this forward-looking information as a result of the factors discussed in the "Risk Factors" section in the Company's most recent MD&A and annual information form available under the Company's profile at www.sedar.com.
Although the Company has attempted to identify important factors that would cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. The forward-looking information contained in this news release is based on information available to the Company as of the date of this news release. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. All of the forward-looking information contained in this news release is qualified by these cautionary statements. Readers are cautioned not to place undue reliance on forward-looking information due to the inherent uncertainty thereof. Except as required under applicable securities legislation and regulations applicable to the Company, the Company does not intend, and does not assume any obligation, to update this forward-looking information.
Information Concerning Estimates of Mineral Resources
Mineral Resources that are not Mineral Reserves do not have demonstrated economic viability. Therefore, investors are cautioned not to assume that all or any part of an Inferred Mineral Resource could ever be mined economically. It cannot be assumed that all or any part of "Measured Mineral Resources," "Indicated Mineral Resources," or "Inferred Mineral Resources" will ever be upgraded to a higher category. The Mineral Resource estimates contained herein may be subject to legal, political, environmental or other risks that could materially affect the potential development of such mineral resources. Refer to the Technical Report, once filed, for more information with respect to the key assumptions, parameters, methods and risks of determination associated with the foregoing.
SOURCE: Gold Terra Resource Corp.
View the original press release on accesswire.com
FAQ
How much is Gold Terra (YGTFF) raising in its December 2024 flow-through financing?
When will Gold Terra's (YGTFF) December 2024 flow-through financing close?
What will Gold Terra (YGTFF) use the flow-through financing proceeds for?
What is the deadline for Gold Terra (YGTFF) to spend the flow-through funds?
Who are the primary investors in Gold Terra's (YGTFF) December 2024 flow-through financing?
