Tudor Gold - Eric Sprott.
Eric Sprott.
Source: Bloomberg.
  • Canterra Minerals (CTM) has completed its previously announced non-brokered private placement
  • Gross proceeds totalled approximately $2.7M
  • Mr. Eric Sprott acquired 13,181,000 units for a total investment of $2,636,200
  • Canterra Minerals is an exploration-stage company
  • Canterra Minerals Corporation (CTM) is down 12.64 per cent, trading at C$0.38 per share at 2:30 pm ET

Canterra Minerals (CTM) has completed its previously announced non-brokered private placement, raising total gross proceeds of approximately $2.7 million.

The offering consisted of 13,581,000 units priced at $0.20 per unit. Each unit includes one common share and one-half share purchase warrant. Each full warrant entitles the holder to acquire one share at a price of $0.30 until June 29, 2023.

Canterra paid finder’s fees totalling $162,972 and issued an aggregate of 407,430 finder’s warrants to an arm’s-length party. Each finder’s warrant entitles the holder to acquire one share at a price of $0.20 until June 29, 2023.

Issued shares and warrants are subject to a statutory hold period expiring on October 30, 2021.

Proceeds will be used for general exploration and working capital and corporate purposes.

Mr. Eric Sprott acquired 13,181,000 units for a total investment of $2,636,200. The shares and warrants were acquired by Mr. Sprott for investment purposes. Mr. Sprott may acquire or sell securities of the company in the future.

Canterra Minerals is an exploration-stage company engaged in the acquisition, exploration, and evaluation of mineral properties. 

Canterra Minerals Corporation (CTM) is down 12.64 per cent, trading at C$0.38 per share at 2:30 pm ET.

More From The Market Online

Usha Resources begins phase 4 fieldwork at White Willow Project

Usha Resources (TSXV:USHA) has begun the fourth phase of fieldwork at its White Willow Lithium Project in Ontario following phase 3 work.

Alamos and Argonaut merge to create one of Canada’s largest gold mines

Alamos Gold (TSX:AGI) announces it will acquire all of the issued and outstanding shares of Argonaut Gold (TSX:AR) in a friendly takeover.