Canterra Minerals Announces Closing of Non-Brokered Private Placement (In Canadian Dollars
Suite 580, 625 Howe Street
Vancouver, British Columbia
V6C 2T6 Canada
p: +1 (604) 687-6644
w: canterraminerals.com
1
Canterra Minerals Announces Closing of Non-Brokered Private Placement
(In Canadian Dollars unless otherwise stated)
Vancouver, B.C. (December 24, 2021) – Canterra Minerals Corporation ( TSXV:CTM) (OTCQB: CTMCF) (“Canterra”
or the “Company”) is pleased to announce that, further to its news release of December 9, 2021, it has completed
its non-brokered private placement, raising total gross proceeds of approximately $1.1 million (the “Offering”). The
Offering consisted of 3,692,500 flow-through common shares of the Company (the “Flow-Through Shares”) at a price
of $0.30 per Flow-Through Share.
The gross proceeds from the Offering will be used for exploration activity on the Company’s 10 0% owned Wilding,
Noel-Paul and Lemarchant projects located in central Newfoundland where drilling is expected to recommence in
early 2022. The exploration ac tivity will qualify as “Canadian Exploration Expenses” and “flow -through mining
expenditures”, as those terms are defined in the Income Tax Act (Canada), which will be renounced to the initial
purchasers of the Flow-Through Shares with an effective date no later than December 31, 2021.
The Company has paid finder’s fees totaling $51,240, in connection with the Offering in accordance with the TSX
Venture Exchange policies.
The Flow-Through Shares are subject to a statutory hold period expiring four months and one day from the closing
date of the Offering, being April 25, 2022.
About Canterra Minerals
Canterra is advancing its 100% owned Wilding and Noel Paul Gold Projects, as well as its resource stage base metals
projects, located 5 0km south , from Millertown and directly northeast of Marathon Gold’s Valentine Lake Gold
Project in Central Newfoundland. The 352km2 property package includes 50km of the northeastern strike-extension
of the Rogerson Lake Structural Corridor, which hosts Marathon Gold’s Valentine L ake deposits, Matador Mining’s
Cape Ray deposit, Sokoman’s Moosehead discovery and TRU Precious Metals’ Golden Rose and Twilight discoveries.
Canterra’s team has more than 100 years of experience searching for gold and diamonds in Canada and has been
involved in the discovery of the Snap Lake diamond mine, in addition to the discovery of the Blackwater Gold deposit
in British Columbia, Canada.
ON BEHALF OF THE BOARD OF CANTERRA MINERALS CORPORATION
Chris Pennimpede
President & CEO
Additional information about the Company is available at www.canterraminerals.com
For further information, please contact: +1 (604) 687-6644
Email: [email protected]
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.
Cautionary Note Regarding Forward-Looking Information
This news release contains statements that constitute “forward-looking information” (collectively, “forward-looking statements”)
within the meaning of the applicable Canadian securities legislation , including statements with respect to the expected use of
proceeds from the Offering . All statements, other than statements of historical fact, are forward -looking statements and are
based on expectations, estimates and projections as at the date of this news release. Any statement that discusses prediction s,
expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using
phrases such as “expects”, or “does not expect”, “is expected”, “anticipates” or “does not anticipate”, “plans”, “budget”,
“scheduled”, “forec asts”, “estimates”, “believes” or “intends” or variations of such words and phrases or stating that certain
actions, events or results “may” or “could”, “would”, “might” or “will” be taken to occur or be achieved) are not statements of
2
historical fact and may be forward-looking statements. Consequently, there can be no assurances that such statements will prove
to be accurate and actual results and future events could differ materially from those anticipated in such statements. Except to
the extent require d by applicable securities laws and the policies of the TSX Venture Exchange, the Company undertakes no
obligation to update these forward -looking statements if management’s beliefs, estimates or opinions, or other factors, should
change. Factors that coul d cause future results to differ materially from those anticipated in these forward -looking statements
include risks associated possible accidents and other risks associated with mineral exploration operations, the risk that the
Company will encounter unanticipated geological factors, the possibility that the Company may not be able to secure permitting
and other governmental clearances necessary to carry out the Company’s exploration plans, the risk that the Company will not be
able to raise sufficient funds to carry out its business plans, and the risk of political uncertainties and regulatory or legal changes
that might interfere with the Company’s business and prospects ; the business and operations of the Company; unprecedented
market and economic risks associated with current unprecedented market and economic circumstances due to the COVID -19
pandemic, as well as those risks and uncertainties identified and reported in the Company's public filings under its SEDAR pr ofile
at www.sedar.com. Accordingly, readers should not place undue reliance on the forward -looking statements and information
contained in this news release. Except as required by law, the Company disclaims any intention and assumes no obligation to
update or revise any forward-looking statements to reflect actual results, whether as a result of new information, future events,
changes in assumptions, changes in factors affecting such forward-looking statements or otherwise.