Magna Terra Minerals Inc. announced a a non-brokered Private Placement to issue 20,000,000 common shares at an issue price of CAD 0.03 per share for the gross proceeds of CAD 600,000 on September 22, 2023. The transaction may include participation from certain insiders. The transaction is subject to regulatory approvals.
In connection with the Private Placement, the Company may pay finder?s fees in cash or securities or a combination of both, as permitted by the policies of the TSX Venture Exchange. All securities issued pursuant to the Private Placement will be subject to a regulatory four month and one day hold period. It is anticipated that an initial closing will occur on or before September 29, 2023.
The Private Placement is subject to approval by the TSX Venture Exchange.