Magna Terra Concludes Flow-Through Private Placement

Magna Terra Minerals Inc. has finalized the second closing of its non-brokered flow-through private placement, raising a total of $500,000. This offering included 3,166,667 premium flow-through common shares at $0.09 each and 2,687,500 flow-through common shares at $0.08 each, aimed at supporting Canadian exploration projects.

The proceeds are earmarked for mineral exploration at the Humber Project in Newfoundland and the Rocky Brook Project in New Brunswick. Insiders, including CEO Lew Lawrick and CFO Bill Francis, acquired shares during the closing process. Collectively, these strategies align with Magna Terra's exploration focus across Atlantic Canada and Argentina.

For transparency, insider transactions were deemed related party transactions but met exemption criteria, as per applicable regulations. All securities from the offering face a regulatory hold period, pending TSX Venture Exchange approval.