Canterra Minerals (CTM.V) has announce its plans to raise up to C$1.25M in a hard dollar placement with units priced at C$0.06. Each unit will consist of one common share and half a warrant with each full warrant allowing the warrant holder to acquire an additional share for C$0.09 within a period of two years. This capital raise is a LIFE offering, which means all shares will be free tradeable from day one.
The company will use the proceeds for general working capital purposes as well as lease and property payments. The company has been very active on the ground on its Newfoundland properties where it has made good progress in further advancing its assets.
Disclosure: The author has a long position in Canterra Minerals. Canterra is a sponsor of the website. Please read the disclaimer.
