Canterra Minerals Announces Non-Brokered Private Placement
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Canterra Minerals Announces Non-Brokered Private Placement
THIS NEWS RELEASE IS NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION
IN THE UNITED STATES
(In Canadian Dollars unless otherwise stated)
Vancouver, B.C. (December 9, 2021) – Canterra Minerals Corporation (TSXV:CTM) (OTCQB: CTMCF) (“Canterra” or
the “Company”) is pleased to announce a non-brokered private placement of up to 3,333,333 flow-through common
shares of the Company (the “Flow-Through Shares”) at a price of $0.30 per Flow-Through Share for gross proceeds
of up to approximately $1.0 million (the “Offering”).
The gross proceeds from the Offering will be used for exploration expenses on the Company’s mineral properties in
Newfoundland, which 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 Offering is scheduled to close on or about December 31, 2021 and is subject to the satisfaction of certain
conditions including, but not limited to, the receipt of all necessary regulatory and other approvals including the
acceptance of the TSX Venture Exchange (the “TSXV”) . A cash commission may be paid to eligible finders in
accordance with the TSXV p olicies. All securities issued pursuant to the Offering will be subject to a hold period of
four months and one day from the date of closing.
This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securitie s in the
United States. The securities have not been and will not be registered under the United States Securities Act of 1933,
as amended (the "U.S. Securities Act"), or any state securities laws and may not be offered or sold within the United
States or to or for the account or benefit of a U.S. person (as defined in Regulation S under the U.S. Securities Act)
unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such
registration is available.
About Canterra Minerals
Canterra is advancing the Wilding and Noel Paul Gold Projects, located 50km south, by logging road, from Millertown
and directly northeast of Marathon Gold’s Valentine Lake Gold Project in central Newfoundland. The 357km2
property package includes 50km of the northeastern strike -extension of the Rogerson Lake Structural Corridor ,
which hosts Marathon Gold’s Valentine Lake deposits, Matador Mining’s Cape Ray deposit, Sokoman’s Moosehead
discovery and TRU Precious Metals’ Golden Rose and Twilight discoveries . A $2.75 million exploration program is
underway, focusing on drilling and surface exploration on the Wilding Gold Project. The Company recently acquired
resource staged projects in central Newfoundland. Canterra’s team has more than 100 years of experience searching
for gold and diamonds in Canada and have 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.
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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 scheduled closing
date of the Offering, the receipt of all necessary regulatory and other approvals, including the acceptance of the TSXV, and 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 predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (ofte n but
not always using phrases such as “expects”, or “does not expect”, “is expected”, “anticipates” or “does not anticipate”, “plans”,
“budget”, “scheduled”, “forecasts”, “estimates”, “believes” or “intends” or variations of such words and phrases or stating t hat
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 TSXV, 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
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 governmenta l
clearances necessary to carry out the Company’s exploration plans, the risk that the Company will not be able to raise sufficie nt
funds to carry out its business plans, and the risk of political uncertainties and regulatory or legal changes that might int erfere
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 profile at www.sedar.com.
Accordingly, readers should not place undue reliance on the forward -looking statements and information contained in this news
release. Excep t 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.