Canterra Minerals (CTM.V) has announced a non-brokered private placement to the tune of C$2M, which will be taken up by just a handful of strategic investors, including Michael Gentile. The financing is priced at C$0.12 per unit with each unit consisting of one common share and half a warrant. Each full warrant will allow the warrant holder to acquire an additional share at C$0.20 during a twelve month period.
The proceeds of this financing will be used to fund the company’s efforts exploring for gold in the central Newfoundland Mining District. While all of the attention recently went to the Buchans critical minerals project, Canterra obviously still has its Wilding gold project, which directly adjoins Equinox Gold’s (EQX.TO) land package hosting the Valentine gold mine.
Disclosure: The author has a long position in Canterra Minerals. Canterra is a sponsor of the website. This post is for educational purposes only; be mindful investing in junior mining stocks is risky and you may lose your entire investment if things go wrong. Please read the disclaimer.
