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Canterra Minerals Corporation

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Canterra Minerals Announces C$2 million Private Placement for Newfoundland Gold Exploration

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Announcement Summary

Canterra Minerals Corporation (TSXV:CTM) (OTCQB: CTMCF) (FSE:DXZB) announced a non-brokered private placement led by Michael Gentile and other strategic investors.

  • The placement is for C$2 million, with net proceeds intended for central Newfoundland exploration, including Wilding Lake Gold Project, and general working capital.
  • The placement provides for 16.6 million Units at $0.12 per Unit, each containing one common share and one-half warrant.
  • Each Warrant will entitle its holder to purchase one additional Share at $0.20 per Share for 12 months after closing.
  • Closing is scheduled on or around October 30, 2025, subject to conditions including, but not limited to, all necessary approvals and TSXV approval.
  • Unit Shares and Warrant Shares will be subject to a hold period of four months plus one day; US offers or sales require registration or an applicable exemption.

The company said it plans to follow up on Wilding’s high-grade results, including samples up to 535 g/t Au; its goal is to mobilize a drill rig as soon as possible.

Investor FAQs

Canterra Minerals Corporation (TSXV:CTM), (OTCQB: CTMCF) and (FSE:DXZB) has announced a non-brokered private placement of C$2 million led by strategic investors, including Michael Gentile. The placement is scheduled to close on or around October 30, 2025, and remains subject to conditions including receipt of necessary approvals, including approval of the TSX Venture Exchange (TSXV).
The placement is expected to result in the issuance of 16.6 million units at a price of $0.12 per Unit, for gross proceeds of $2.0 million. Each Unit consists of one common share and one-half of one common share purchase warrant. Each whole Warrant entitles its holder to purchase one additional Share at an exercise price of $0.20 per Share for a period of 12 months following the closing of the Private Placement.
The Company states that the net proceeds will be used for exploration of its projects in central Newfoundland, including its Wilding Lake Gold Project, and for general working capital purposes. The release specifically refers to supporting gold exploration efforts in the central Newfoundland Mining District on the Wilding gold project.
President and CEO Chris Pennimpede said the Company plans to follow up on high-grade gold results from the Wilding Gold Project and that the goal is to mobilise a drill rig as soon as possible to test new targets. The release states that recent results returned high-grade gold samples of up to 535 g/t Au. It does not provide results from any proposed drilling.
The Unit 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 Private Placement under applicable Canadian securities laws. The Offered Securities have not been, and will not be, registered under the United States Securities Act of 1933 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” absent registration or an applicable exemption. No finders’ fees are expected to be paid.
The release identifies risks associated with possible accidents and other mineral exploration operations, unanticipated geological factors, difficulties securing permitting and other governmental clearances, insufficient funds to carry out business plans, and political uncertainties or regulatory or legal changes. It also states that the placement is subject to necessary approvals and that actual results and future events could differ materially from forward-looking statements.
Canterra describes itself as a diversified minerals exploration company focused on critical minerals and gold in central Newfoundland. Its projects include six mineral deposits located in close proximity to the Buchans Mine and Teck Resources’ Duck Pond Mine. The release states that several 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, but it does not provide resource figures in this announcement.

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