Canterra Minerals to Raise C$2M for Wilding Gold Project
Canterra Minerals Corporation (TSXV:CTM, OTCQB: CTMCF, FSE:DXZB) is set to close a private placement on or around October 30, 2025, subject to necessary approvals. This move aims to raise C$2 million for its gold exploration efforts in central Newfoundland, specifically at the Wilding Gold Project, adjacent to the Equinox Gold Valentine Gold Mine.
The private placement will see the issuance of 16.6 million units at $0.12 per unit, with each unit consisting of one common share and one-half of one common share purchase warrant. This is expected to generate gross proceeds of $2.0 million. Notably, no finders' fees are anticipated for this placement.
The financing is led by Sprott Capital Partners and backed by strategic investors, including Michael Gentile, one of Canterra's largest shareholders. Proceeds will primarily support gold exploration efforts in the central Newfoundland Mining District, with a focus on the Wilding gold project. The company also plans to use the funds for general working capital purposes. The project's proximity to the Valentine Gold Mine, where recent results returned high-grade gold samples up to 535 g/t Au, adds to its potential.
The closing of this private placement is subject to necessary approvals and is scheduled for around October 30, 2025. The raised funds will significantly boost Canterra's exploration efforts in the promising central Newfoundland region, with the potential to uncover more high-grade gold deposits like those found near the Valentine Gold Mine.
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