- The company issued 8,270,000 units at a price of $0.05 per unit for gross proceeds of $413,500
- A portion of the net proceeds will be used to fund an exploration program on the Los Reyes Au-Cu project, Mexico
- Valterra Resource Corp is a Canadian-based mineral exploration company
- Valterra Resource Corp is currently trading at C$0.045 per share
Valterra Resource Corporation (VQA) has closed the first tranche of its private placement.
The company issued 8,270,000 units at a price of $0.05 per unit for gross proceeds of $413,500.
Each unit consists of one common share and one-half share purchase warrant, with each full warrant exercisable for one common share at an exercise price of $0.10 per share for a period of three years following the closing of the offering.
Securities, including common shares and share purchase warrants, issued during the private placement have a hold period until December 4, 2021.
Finders’ fees and commissions may be paid by Valterra.
A portion of net proceeds will be used to pay the 2021 option payment on the Las Reyes property and to fund costs associated with an exploration program on the Los Reyes Au-Cu project, Mexico.
Valterra Resource Corp is a Canadian-based mineral exploration company engaged in the acquisition, exploration, and development of natural resource properties.
The company holds an interest in Swift Katie, Los Reyes, Lima Gold, and Livramento.
Valterra Resource Corp is currently trading at C$0.045 per share.
