What securities were issued in the private placement?

Each Unit consists of one common share and one half of one common share purchase warrant. One whole Warrant entitles its holder to purchase one Share at $0.20 for 12 months following the closing date of the Private Placement. All figures are in Canadian dollars.

How does Canterra intend to use the proceeds?

Canterra stated that it intends to use the net proceeds to drill its exploration-stage Wilding Gold project in the central Newfoundland Mining District, adjoining Equinox Gold’s Valentine Mine, and for general working capital purposes. The company’s CEO said the financing positions it to immediately mobilise a drill rig to the project.

Are there restrictions on the securities?

The Unit Shares and Warrant Shares are subject to a hold period ending on March 1, 2026, pursuant to 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. The release also states that it is not an offer to sell or a solicitation of an offer to buy.

Did the transaction involve related-party participation?

Cairn Merchant Partners LP, a company controlled by Canterra Chairman and Director Andrew Farncomb, purchased 1,294,999 Units. The company therefore stated that the Private Placement constitutes a “related party transaction” under Multilateral Instrument 61-101. It said the participation is exempt from formal valuation and minority shareholder approval requirements because neither the fair market value of the Shares subscribed for by insiders nor the consideration paid by insiders would exceed 25% of the Company’s market capitalisation.

What risks and uncertainties does Canterra identify?

Canterra identified risks associated with possible accidents and other mineral exploration operations, unanticipated geological factors, an inability to secure permitting and other governmental clearances, an inability to raise sufficient funds to carry out its business plans, and political uncertainties or regulatory or legal changes. The company stated that actual results and future events could differ materially from its forward-looking statements and that readers should not place undue reliance on them.

What does the release say about Canterra’s projects and exploration outlook?

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 close to the past-producing Buchans Mine and Teck Resources’ Duck Pond Mine. The release states that past drilling by Canterra and others intersected multiple occurrences of orogenic-style gold mineralisation within a large land position that remains underexplored. Statements concerning estimated mineral resources, potential discoveries and future exploration outcomes are identified by the company as forward-looking statements, and no assurance is given that they will prove accurate.

Home
News Intelligence
Canterra Minerals Corporation
Canterra Minerals Closes $2,004,000 Private Placement for Newfoundland Gold Exploration

Back to all Canterra Minerals Corporation press releases

Canterra Minerals Corporation

FSE:DXZB
OTCQB:CTMCF
TSXV:CTM

Canterra Minerals Closes $2,004,000 Private Placement for Newfoundland Gold Exploration

Published Tuesday, 28 October 2025, 11:00 PM

Get alerts

Plain English summaries when Canterra Minerals Corporation announces news.

At a glance

Company: Canterra Minerals Corporation
Listings: FSE:DXZB, OTCQB:CTMCF, TSXV:CTM
Published: Tuesday, 28 October 2025, 11:00 PM
Source announcement: globenewswire.com

FAQSIR Generated from this announcement View original release below for safe harbor and regulatory notices

Announcement Summary

Canterra Minerals Corporation (TSXV:CTM) (OTCQB: CTMCF) (FSE:DXZB) announced closing of its previously announced non-brokered private placement led by strategic investors, including Michael Gentile.

The company issued 16,700,000 Units at $0.12 per Unit for gross proceeds of $2,004,000.
Each Unit includes one Share and half a Warrant; each whole Warrant buys one Share at $0.20 for 12 months.
The company intends to use net proceeds to drill the Wilding Gold project and for general working capital.
Cairn Merchant Partners LP bought 1,294,999 Units, making the placement a related party transaction under MI 61-101.
Unit and Warrant Shares are subject to a hold period ending March 1, 2026; US offers require Securities Act registration or exemption.

The company said MI 61-101 exemptions apply because insider-subscribed Shares and insider consideration would not exceed 25% of market capitalization.

Investor FAQs

Canterra Minerals Corporation (TSXV:CTM) (OTCQB: CTMCF) (FSE:DXZB) announced the closing of its previously announced non-brokered private placement. The company issued 16,700,000 Units at $0.12 per Unit for gross proceeds of $2,004,000. The placement was led by strategic investors, including Michael Gentile.

Source announcement

Company: Canterra Minerals Corporation
Title: Canterra Minerals Announces Closing of $2.0 Million Private Placement Led by Michael Gentile and Other Strategic Investors to Fund Gold Exploration in Newfoundland
Published: Tuesday, 28 October 2025, 11:00 PM
Source site: globenewswire.com

Read the source announcement on globenewswire.com

FAQSIR's summary and investor FAQs are generated by AI from the text of this announcement alone, without information from other sources.

Figures, forecasts and other claims are the announcement's, not FAQSIR's. FAQSIR does not independently verify them.

Read the original press release

Full text as published, unedited.

Loading the original release…

Important Notice And Disclaimer

This article was generated by an artificial intelligence system from an announcement published by the issuer. It has not been independently researched, verified, or edited by a journalist, and no person holds editorial responsibility for its wording.

The issuer named in this article has not paid for this page and has no commercial relationship with its publisher. This is an unpaid evaluation preview produced from announcements the issuer published publicly, and it is not independent editorial coverage.

This article does not provide any financial advice and is not a recommendation to deal in any securities or product. Investments may fall in value and an investor may lose some or all of their investment. Past performance is not an indicator of future performance.

Ask about this announcement

Answers drawn only from this announcement

Reading the announcement…