On December 11, 2023, Magna Terra Minerals Inc. closed the transaction. The company has issued 10,828,980 common shares at a price of CAD 0.03 per share for the aggregate gross proceeds of CAD 324,869. After the closing, Signal Gold Inc. shall hold, directly and indirectly, 15,035,795 common shares of the company; Lawrick shall hold, directly and indirectly, or exercise control over 10,286,309 common shares, 1,300,000 common share purchase warrants and 1,071,429 stock options of the company; Francis shall hold, directly and indirectly, or exercise control over 2,206,667 common shares, 250,000 common share purchase warrants and 600,000 stock options of the company and Wober shall hold, directly and indirectly, or exercise control over 395,000 common shares and 400,000 stock options of the company. The TSX Venture Exchange has accepted for filing documentation with respect to anon-brokered private placement announced on September 22, 2023. The transaction included participation from 9 placees and 4 insiders.
Insider subscribed for 7,178,980 common shares.