Altamira Gold Closes Upsized $5.28 Million Non-Brokered Private Placement
Altamira Gold Closes Upsized $5.28 Million
Non-Brokered Private Placement
Vancouver, British Columbia--(Newsfile Corp. - July 2, 2025) -
Altamira Gold Corp. (TSXV: ALTA)
(FSE: T6UP) (OTC Pink: EQTRF)
("
Altamira
" or the "
Company
"), is pleased to announce that it has
closed its previously announced non-brokered private placement, consisting of a total of 52,850,000
units (the "
Units
") at a price of $0.10 per Unit for aggregate gross proceeds of $5,285,000 (the
"
Offering
"). Each Unit consists of one common share and one-half of one common share purchase
warrant. Each whole warrant entitles the holder to purchase one additional common share at a price of
C$0.15 for a period of 24 months from the closing of the Offering. Due to strong investor demand, the
Offering was increased from the initial $4 million to $5.28 million. Crescat Capital LLC ("
Crescat
") and
Aura Minerals Inc. ("
Aura
"), two of the Company's largest shareholders and strategic investors,
participated in the private placement.
Kevin Smith, CFA, Founder and CEO of Crescat Capital commented, "
We are excited about the
district-scale potential of this unique gold porphyry system, the first of its kind in Brazil. At this stage,
we see it as a fast-growing exploration story, with the deposit showing strong potential to expand
quickly through cost-effective drilling. We are happy to support the Company with fresh capital and
look forward to the results on the additional drilling planned at the Maria Bonita gold deposit, the
Central resource area, and several previously untested porphyry gold targets."
In connection with the Offering, the Company paid aggregate cash commission of $19,500, and issued
an aggregate of 195,000 finder warrants to certain arm's-length finders. Each finder's warrant entitles the
holder thereof to purchase one common share of the Company at a price of $0.15 per share for a period
of 24 months from the closing of the Offering.
The Company expects to use the net proceeds of the Offering for follow-up drilling at the Company's
Maria Bonita porphyry gold Resource, the Central Area Mineral Resources, and other targets within the
Cajueiro project. Funds will also support additional exploration programs within other projects and be
used for general working capital purposes.
All securities issued pursuant to the Offering are subject to a four-month hold period expiring on October
31, 2025 under Canadian securities laws and the policies of the TSX Venture Exchange, as applicable.
The securities issued pursuant to the Offering have not been registered under the U.S. Securities Act of
1933, as amended, or any state securities laws, and may not be offered or sold in the United States
absent registration or an exemption from the registration requirements.
Pursuant to Multilateral Instrument 61-101
Protection of Minority Security Holders in Special
Transactions
("
MI 61-101
") the Company advises that three subscribers, considered to be "related
parties" of the Company by virtue of their each holding more than 10% of the Company's issued and
outstanding common shares, purchased an aggregate of 41,000,000 Units for gross proceeds of
$4,100,000. Each subscription by the related parties of the Company is considered to be a "related
party transaction" for purposes of MI 61-101 and TSXV Policy 5.9 -
Protection of Minority Security
Holders in Special Transactions
. The Company is relying on the exemptions from the formal valuation
requirements contained in section 5.5(b) of MI 61-101 and the minority shareholder approval
requirements contained in section 5.7(1) (a) of MI 61-101, as the Company is not listed on specified
markets and the fair market value of the "related party" participation in the Offering does not exceed
25% of the Company's market capitalization, as determined in accordance with MI 61-101.
About Altamira Gold Corp.
The Company is focused on the exploration and development of gold and copper projects within western
central Brazil, strategically advancing five projects spanning over 100,000 hectares within the prolific
Juruena Gold Belt-an area that has historically yielded over 6 million ounces of placer gold*. The
Company's advanced Cajueiro project contains two gold deposits. The central area comprises NI 43-
101 resources of 5.66Mt @ 1.02 g/t gold for a total of 185,000 oz in the Indicated Resource category
and 12.66Mt @ 1.26 g/t gold for a total of 515,000oz in the Inferred Resource category. In addition, the
Maria Bonita gold deposit comprises additional open-pit Indicated Resources of 24.19Mt @ 0.46g/t for
a total of 357,800oz, and Inferred Resources of 25.64Mt @ 0.44g/t for a total of 362,400oz.
Ongoing exploration and fieldwork at Cajueiro indicate the presence of multiple porphyry gold systems,
reinforcing its potential for district-scale development. These hard-rock gold sources align with historical
alluvial gold production, highlighting the region's exceptional gold endowment and scalability. With a
highly prospective geological setting and a track record of significant discoveries, the Company is well-
positioned to unlock further value across its expansive land package.
* Juliani, C. et al; Gold in Paleoproterozoic (2.1 to 1.77 Ga) Continental Magmatic Arcs at the Tapajós and Juruena Mineral Provinces (Amazonian
Craton,Brazil): A New Frontier for the Exploration of Epithermal-Porphyry and Related Deposits. Minerals 2021, 11, 714.
On Behalf of the Board of Directors,
ALTAMIRA GOLD CORP.
"Michael Bennett"
Michael Bennett
President & CEO
Tel: 604.676.5661
www.altamiragold.com
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in
policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this
release.
This news release contains forward-looking statements relating to the Offering and the use of
proceeds. These statements are forward-looking in nature and, as a result, are subject to certain risks
and uncertainties that include, but are not limited to, general economic, market and business
conditions; receipt and timing of regulatory approvals; new legislation; potential delays or changes in
plans; and the Company's ability execute and implement future plans.
There is no guarantee that the
Offering will close. Actual results achieved may differ from the information provided herein and,
consequently, readers are advised not to place undue reliance on forward-looking information. The
forward-looking information contained herein speaks only as of the date of this news release. The
Company disclaims any intention or obligation to update or revise forward-looking information or to
explain any material difference between such and subsequent actual events, except as required by
applicable law.
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