Magna Terra Divests Great Northern for $9.5M

Magna Terra Minerals Inc (TSE:MTT) has released an update.

Magna Terra Minerals Inc. has announced a strategic sale of its Great Northern Project in Newfoundland to Gold Hunter Resources Inc. for $9.5 million, payable in cash and shares over two years. The deal, which includes the potential for Magna Terra to appoint a board member to Gold Hunter, signifies a positive shift for the company amidst challenging times for precious metals explorers. This transaction offers Magna Terra shareholders retained upside exposure and advances the project with the well-funded Gold Hunter at the helm.

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