Canterra Minerals Announces Increase of Non-brokered Private Placement
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Canterra Minerals Announces Increase of Non-brokered Private Placement
Vancouver, B.C. (December 12, 2023) – Canterra Minerals Corporation ( TSXV:CTM) (OTCQB: CTMCF) (“Canterra”
or the “Company”) is pleased to announce that it has increased the size of its previously announced non-brokered
private placement financing (the “Financing”) (see news release dated November 29, 2023) of up to a maximum of
18,461,538 shares comprised of critical mineral exploration tax credit (“CMETC”) flow -through (“FT”) common
shares at a price of $0.065 per FT share for a maximum aggregate proceeds of up to C$ 1,200,000. Subject to
compliance with applicable securities laws and the approval of the TSX Venture Exchange, finders' fees may be
payable to eligible arm's length persons with respect to certain subscriptions accepted by the Company.
The proceeds of the Financing will be used to fund further exploration programs including drilling on the Company’s
resource stage critical minerals deposits in central Newfoundland, including drilling at its Boomerang and
Lemarchant projects. Closing of the Offering is subject to receipt of applicable regulatory approvals including the
approval of the TSX Venture Exchange. The securities issued will be subject to a four month hold period.
About Canterra Minerals
Canterra Minerals is a diversified minerals exploration company with a focus on critical minerals (zinc and copper)
in central Newfoundland. Canterra’s critical metals projects include four deposits which host compliant resources
with considerable explorat ion potential. The deposits are located in close proximity to Teck Resources ’ past
producing Duck Pond mine and the past producing Buchans Mine. The deposits host a combined complaint resource
of 4.1 million tonnes of Indicated Resources and 1.2 million to nnes of Inferred Resources. See the NI 43 -101
Technical Report “Lemarchant and South Tally Project, Technical Report and Updated Mineral Resource Estimate”
effective September 20, 2018. In addition, Canterra holds exploration stage gold properties that cover 80 km of
strike length of the regional gold bearing Rogerson Lake structural corridor which hosts Marathon Gold
Corporation’s feasibility stage Valentine Lake Gold Project. The gold projects have been subject to four drilling
campaigns, demonstrating many gold occurrences and warranting further exploration. In Alberta, Canada, Canterra
also holds a 50% interest and is operator of the Buffalo Hills diamond project, with Star Diamond Corporation
holding the remaining interest. The Buffalo Hills diamond pro ject has been subject to considerable exploration
expenditures, including a bulk sample, which has identified 38 kimberlites.
The Company would like to thank the Government of Newfoundland and Labrador for past financial support of
exploration work through the Junior Exploration Assistance Program.
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 press release contains statements that constitute “forward-looking information” (collectively, “forward-looking statements”)
within the meaning of the applicable Canadian securities legislation. 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 predictions, expectations, beliefs, plans, pr ojections, objectives, assumptions, future events or
performance (often but not always using phrases such as “expects”, or “does not expect”, “is expected”, “anticipates” or “doe s
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not anticipate”, “plans”, “budget”, “scheduled”, “forecasts”, “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 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 required 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 opini ons,
or other factors, should change. Factors that could 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
respective SEDAR profile at www.sedarplus.ca. Accordingly, readers should not place undue reliance on the forward -looking
statements and information contained in this press release. Except as required by law, the Company disclaims any intention an d
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.