Gold Terra Secures C$2.4 Million Financing, Bolstered by Osisko's C$2 Million

Gold Terra Resource Corp, a Canadian exploration company, has successfully closed its financing package, raising a total of C$2.4 million. This initiative was complemented by Osisko Gold Royalties' decision to exercise their first royalty option for a 2% NSR royalty on Gold Terra's Yellowknife Property, contributing an additional C$2 million. Consequently, the company's cash balance has surged to C$4.4 million, after accounting for finders' fees.

Insiders contributed significantly to the funding, buying 3,660,000 shares. The raised funds will accelerate drilling activities at the Con Mine, focusing on valuable resources within the Campbell Shear structure. The initiative aims to expand the existing Indicated and Inferred resources and exploit potential high-grade ore underneath existing workings.