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Magna Terra Minerals Inc ( (TSE:MTT) ) has issued an announcement.
Magna Terra Minerals Inc. announced an upsizing of its flow-through private placement, now aiming to raise up to $500,000 through the issuance of premium flow-through and flow-through common shares. The funds will be allocated to Canadian exploration expenses for projects such as the recently acquired Humber Project in Newfoundland and the Rocky Brook Project in New Brunswick. The participation of an insider in the offering qualifies as a related party transaction, but the company is utilizing exemptions from certain regulatory requirements. The offering is pending approval by the TSX Venture Exchange and may involve payment of finder’s fees.
More about Magna Terra Minerals Inc
Magna Terra Minerals Inc., headquartered in Toronto, Canada, is a precious and critical metals exploration company. The company focuses on acquiring and advancing high-potential mineral projects in Atlantic Canada and Argentina. Its key projects include the Humber Copper-Cobalt Project in Newfoundland and Labrador, the Rocky Brook Project in northern New Brunswick, and the Cape Spencer Gold Project in southern New Brunswick. Additionally, Magna Terra holds a significant exploration portfolio in Santa Cruz, Argentina, with projects like the Boleadora Project being developed under an option to purchase agreement with Newmont Corporation.
YTD Price Performance: 55.56%
Average Trading Volume: 228,421
Technical Sentiment Consensus Rating: Hold
Current Market Cap: C$5.99M
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