Magna Terra Announces Closing of Second Tranche of Upsized Non-Brokered Private Placement of $1.2 Million
MAGNA TERRA ANNOUNCES CLOSING OF SECOND TRANCHE OF UPSIZED
NON-BROKERED PRIVATE PLACEMENT OF $1.2 MILLION
Toronto, Ontario – November 19, 2021 – Magna Terra Minerals Inc. (the “Company” or “Magna Terra”) (TSX -V:
MTT) is pleased to announce that it has completed a second and final closing of its non -brokered Private Placement
(see Press Release dated Oct ober 29, 2021) totalling $ 415,000. Due to oversubscribed demand , the Company
increased the offering to $1.2 million in common share units. The Company issued a total of 12 million common share
units at a price of $0.10 per unit. E ach common share unit consisted of one (1) common share and one -half of one
common share purchase warrant, each full warrant being exercisable for an additional common share of the Company
at a price of $0.15 for 24 months from the date of issuance. The warrants are subject to an Acceleration Clause, four
(4) months plus one (1) day after the Closing Date of the Private Placement, whereby the Acceleration Clause will be
in effect if the closing price of the common shares of the Company on the TSX Venture Exchange is equal to or greater
than $0.35 for ten (10) consecutive trading days, entitling the Company to accelerate the expiry date of the w arrants
such that the holders of the w arrants shall have a period of thirty (30) days to exercise the w arrants upon deemed
receipt of the Acceleration Notice. Company Insiders pa rticipated in the Private Placement for total subscription
proceeds of $170,000. In connection with the Private Placement, the Company paid cash finder’s fees of $39,000 and
issued a total of 390,000 finder’s warrants; with each finder’s warrant exercisabl e at a price of $0.15 for a period of
two years from the date of issuance. All securities issued pursuant to the Private Placement will be subject to a four
month and one day hold period. The Private Placement remains subject to final approval by the TSX V enture
Exchange. The proceeds of the financing will be used to advance Magna Terra’s project portfolio in Newfoundland
and New Brunswick, and for general working capital purposes.
About Magna Terra
Magna Terra Minerals Inc. is a precious metals focused exploration company, headquartered in Toronto, Canada.
Magna Terra owns three district-scale, advanced gold exploration projects in the world class mining jurisdictions of
New Brunswick and Newfoundland and Labrador. Further, the Company maintains a significant exploration portfolio
in the province of Santa Cruz, Argentina which includes its precious metals discovery on its Luna Roja Project, as
well as an extensive portfolio of district-scale drill ready projects available for option or joint venture.
Forward Looking Statements
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the
TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Cautionary Statements Regarding Forward Looking Information
Some statements in this release may contain forward-looking information. All statements, other than of historical fact,
that address activities, events or developments that the Company believes, expects or anticipates will or may occur in
the future (including, without limitation, statements regarding potential mineralization) are forward -looking
statements. Forward-looking statements are generally identifiable by us e of the words “may”, “will”, “should”,
“continue”, “expect”, “anticipate”, “estimate”, “believe”, “intend”, “plan” or “project” or the negative of these
words or other variations on these words or comparable terminology. Forward -looking statements are sub ject to a
number of risks and uncertainties, many of which are beyond the Company’s ability to control or predict, that may
cause the actual results of the Company to differ materially from those discussed in the forward -looking statements.
Factors that could cause actual results or events to differ materially from current expectations include, among other
things, without limitation, failure to establish estimated mineral resources, the possibility that future exploration
results will not be consistent with the Company's expectations, changes in world gold markets or markets for other
commodities, and other risks disclosed in the Company’s public disclosure record on file with the relevant securities
regulatory authorities. Any forward-looking statement speaks only as of the date on which it is made and except as
may be required by applicable securities laws, the Company disclaims any intent or obligation to update any forward-
looking statement.
FOR FURTHER INFORMATION PLEASE CONTACT:
Magna Terra Minerals Inc.
Lewis Lawrick
President and CEO, Director
647-478-5307
Email: [email protected]
Website: www.magnaterraminerals.com