sur Magna Terra Minerals Inc. (CVE:MTT)
Magna Terra Expands Flow-Through Private Placement
Magna Terra Minerals Inc. has announced an upsizing of its premium flow-through financing, increasing the total to up to $500,000. This includes issuing up to $325,000 in premium flow-through common shares at $0.09 per share and $175,000 in flow-through common shares at $0.08 per share. The funds will support Canadian exploration expenses, particularly at the Humber Project in Newfoundland and Rocky Brook Project in New Brunswick.
An insider of the company will participate in the offering, classified as a "related party transaction" under MI 61-101. Magna Terra is exempt from formal valuation and minority shareholder approval due to specific provisions under MI 61-101.
Finder's fees may be applied in cash or securities, and all securities will be subject to a four-month hold. The offer awaits TSX Venture Exchange approval.
R. E.
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