- Gold Terra (YGT) has closed its non-brokered private placement for gross proceeds of $3,782,717
- The company issued 12,055,585 flow-through shares at $0.20 per FT share and 8,572,500 common shares at $0.16 per common share
- The company will use the net proceeds for working capital and general corporate purposes
- Gold Terra is a junior mineral exploration company
- Gold Terra Resource Corp. (YGT) is up 6.25 per cent, trading at C$0.17 per share at 3:02 pm ET
Gold Terra (YGT) has closed its non-brokered private placement for gross proceeds of $3,782,717.
The company issued 12,055,585 flow-through shares at $0.20 per FT share and 8,572,500 common shares at $0.16 per common share.
The company will use the net proceeds for working capital and general corporate purposes.
Gerald Panneton, Chairman & CEO of Gold Terra, commented on the news.
“We are pleased to have completed a successful financing with the support of existing shareholders and new shareholders. This financing allows the company to have a substantial winter drilling program on the Con Mine Option Property from Newmont.”
Directors and officers of Gold Terra also participated in the offering and were issued an aggregate of 600,000 common shares. The company paid $144,872 in finder’s fees.
All securities issued will be subject to a statutory holding period expiring on March 22, 2023.
Gold Terra is a junior mineral exploration company. Its primary exploration focus is Con Mine Option Property which is adjacent to Yellowknife City Gold (YCG) project. The property encompasses 800 sq. km of contiguous land immediately north, south and east of the City of Yellowknife in the Northwest Territories.
Gold Terra Resource Corp. (YGT) is up 6.25 per cent, trading at C$0.17 per share at 3:02 pm ET.