TORONTO, ON / ACCESSWIRE / November 19, 2021 / Magna Terra Minerals Inc. (the “Firm” or “Magna Terra”) (TSXV:MTT) is happy to announce that it has accomplished a second and closing closing of its non-brokered Private Placement (see Press Launch dated October 29, 2021) totalling $415,000. As a result of oversubscribed demand, the Firm elevated the providing to $1.2 million in frequent share items. The Firm issued a complete of 12 million frequent share items at a worth of $0.10 per unit. Every frequent share unit consisted of one (1) frequent share and one-half of one frequent share buy warrant, every full warrant being exercisable for an extra frequent share of the Firm at a worth of $0.15 for twenty-four months from the date of issuance. The warrants are topic to an Acceleration Clause, 4 (4) months plus one (1) day after the Closing Date of the Private Placement, whereby the Acceleration Clause will probably be in impact if the closing worth of the frequent shares of the Firm on the TSX Enterprise Change is the same as or larger than $0.35 for ten (10) consecutive buying and selling days, entitling the Firm to speed up the expiry date of the warrants such that the holders of the warrants shall have a interval of thirty (30) days to train the warrants upon deemed receipt of the Acceleration Discover. Firm Insiders participated within the Private Placement for complete subscription proceeds of $170,000. In reference to the Private Placement, the Firm paid money finder’s charges of $39,000 and issued a complete of 390,000 finder’s warrants; with every finder’s warrant exercisable at a worth of $0.15 for a interval of two years from the date of issuance. All securities issued pursuant to the Private Placement will probably be topic to a 4 month and someday maintain interval. The Private Placement stays topic to closing approval by the TSX Enterprise Change. The proceeds of the financing will probably be used to advance Magna Terra’s mission portfolio in Newfoundland and New Brunswick, and for common working capital functions.
About Magna Terra
Magna Terra Minerals Inc. is a valuable metals centered exploration firm, headquartered in Toronto, Canada. Magna Terra owns three district-scale, superior gold exploration initiatives on the planet class mining jurisdictions of New Brunswick and Newfoundland and Labrador. Additional, the Firm maintains a major exploration portfolio within the province of Santa Cruz, Argentina which incorporates its valuable metals discovery on its Luna Roja Undertaking, in addition to an in depth portfolio of district-scale drill prepared initiatives obtainable for choice or three way partnership.
Ahead-Wanting Statements
Neither the TSX Enterprise Change nor its Regulation Companies Supplier (as that time period is outlined within the insurance policies of the TSX Enterprise Change) accepts duty for the adequacy or accuracy of this launch.
Cautionary Statements Relating to Ahead-Wanting Data
Some statements on this launch could comprise forward-looking info. All statements, aside from of historic truth, that handle actions, occasions or developments that the Firm believes, expects or anticipates will or could happen sooner or later (together with, with out limitation, statements concerning potential mineralization) are forward-looking statements. Ahead-looking statements are typically identifiable by use of the phrases “could”, “will”, “ought to”, “proceed”, “anticipate”, “anticipate”, “estimate”, “consider”, “intend”, “plan” or “mission” or the adverse of these phrases or different variations on these phrases or comparable terminology. Ahead-looking statements are topic to a quantity of dangers and uncertainties, many of that are past the Firm’s skill to manage or predict, which will trigger the precise outcomes of the Firm to vary materially from these mentioned within the forward-looking statements. Components that might trigger precise outcomes or occasions to vary materially from present expectations embrace, amongst different issues, with out limitation, failure to ascertain estimated mineral assets, the likelihood that future exploration outcomes is not going to be per the Firm’s expectations, adjustments in world gold markets or markets for different commodities, and different dangers disclosed within the Firm’s public disclosure file on file with the related securities regulatory authorities. Any forward-looking assertion speaks solely as of the date on which it’s made and besides as could also be required by relevant securities legal guidelines, the Firm disclaims any intent or obligation to replace any forward-looking assertion.
FOR FURTHER INFORMATION PLEASE CONTACT:
Magna Terra Minerals Inc.
Lewis Lawrick
President and CEO, Director
647-478-5307
Electronic mail: [email protected]
Web site: www.magnaterraminerals.com
SOURCE: Magna Terra Minerals Inc.
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https://www.accesswire.com/673734/Magna-Terra-Announces-Closing-of-Second-Tranche-of-Upsized-Non-Brokered-Private-Placement-of-12-Million
