GOLD Terra Resource Corp. Announces Overnight Marketed Public Offering of up to Approximately C$6 Million
PRESS RELEASE
Not for distribution to U.S. news wire services or dissemination in the United States.
GOLD TERRA RESOURCE CORP. ANNOUNCES OVERNIGHT MARKETED PUBLIC OFFERING
OF UP TO APPROXIMATELY C$6 MILLION
Vancouver, BC – May 4, 2023 – Gold Terra Resource Corp. (TSX-V: YGT; Frankfurt: TX0; OTCQX:
YGTFF) (“Gold Terra” or the “Company”) has announced today that it has entered into an agreement
with by BMO Capital Markets, as lead underwriter and on behalf of a syndicate of underwriters to be
formed, under which the underwriters have agreed to sell on a “best efforts” overnight marketed offering
basis, a combination of common shares (the “Common Shares”) and flow-through common shares (the
“Flow-Through Common Shares”) to provide the Company with gross proceeds of up to approximately
C$6 million (the “Offering”). The Common Shares will be offered at a price of C$0.10 per share and the
Flow-Through Common Shares will be offered at a price of C$0.115 per share. The number of Common
Shares and Flow-Through Common Shares to be sold will be determined in the course of marketing.
The Company has granted the Underwriters an option, exercisable at the offering price for a period of
30 days following the closing of the Offering, to sell Common Shares equal to up to an additional 15% of
the Offering to cover over-allotments, if any. The Offering is expected to close on or about May 16, 2023
and is subject to Gold Terra receiving all necessary regulatory approvals, including the acceptance of
the TSX Venture Exchange.
The net proceeds from the sale of the Common Shares will be used to advance exploration at the
Company’s Yellowknife Project (YP), including the Con Mine Option property (CMO), for working capital,
and for general corporate purposes.
The gross proceeds from the sale of the Flow-Through Common Shares will be used for expenditures
which qualify as “Canadian exploration expenses” (“CEE”) and “flow-through mining expenditures” both
within the meaning of the Income Tax Act (Canada). The Company will renounce such CEE with an
effective date of no later than December 31, 2023.
The Company intends to file a prospectus supplement (the “Supplement” and, together with the
Preliminary Supplement, the “Supplements”) to its short form base shelf prospectus dated February 24,
2023 (the “Base Shelf Prospectus”) on or about May 9, 2023. The Supplements will be filed with the
securities regulatory authorities in each of the provinces and territories of Canada, except Québec. The
Common Shares may also be offered by way of private placement in the United States.
The securities offered have not been registered under the U.S. Securities Act of 1933, as amended, and
may not be offered or sold in the United States absent registration or an applicable exemption from the
registration requirements. This news release shall not constitute an offer to sell or the solicitation of an
offer to buy nor shall there be any sale of the securities in any jurisdiction in which such offer, solicitation
or sale would be unlawful.
About Gold Terra
The YP encompasses 800 sq. km of contiguous land immediately north, south and east of the City of
Yellowknife in the Northwest Territories. Through a series of acquisitions, Gold Terra controls one of the
six major high-grade gold camps in Canada. Being within 20 kilometers of the City of Yellowknife, the
YP is close to vital infrastructure, including all-season roads, air transportation, service providers, hydro-
electric power, and skilled tradespeople. Gold Terra is currently focusing its drilling on the prolific
Campbell Shear, where 14 Moz of gold has been produced, and most recently on the Con Mine Option
Property where it produced 6 Moz @ grade between 16 to 20 g/t Au (1938-2003).
The YP and CMO property lie on the prolific Yellowknife greenstone belt, covering nearly 70 kilometers
of strike length along the main mineralized shear system that host the former-producing high-grade Con
and Giant gold mines. The Company's exploration programs have successfully identified significant
zones of gold mineralization and multiple targets that remain to be tested which reinforces the Company's
objective of re-establishing Yellowknife as one of the premier gold mining districts in Canada.
Visit our website at www.goldterracorp.com.
For more information, please contact:
Gerald Panneton, Chairman & CEO
Mara Strazdins, Manager of Investor Relations
Phone: 1-778-897-1590 | 604-689-1749 ext 102
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 Note Regarding Forward-Looking Information
Certain statements made and information contained in this news release constitute "forward-looking
information" within the meaning of applicable securities legislation ("forward-looking information").
Generally, this forward-looking information can, but not always, be identified by use of forward-looking
terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled",
"estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of
such words and phrases or statements that certain actions, events, conditions or results "will", "may",
"could", "would", "might" or "will be taken", "occur" or "be achieved" or the negative connotations thereof.
All statements other than statements of historical fact may be forward-looking information. Forward-
looking information is necessarily based on estimates and assumptions that are inherently subject to
known and unknown risks, uncertainties and other factors that may cause the actual results, level of
activity, performance or achievements of the Company to be materially different from those expressed
or implied by such forward-looking information. In particular, this news release contains forward-looking
information regarding the expected closing date of the Offering and use of proceeds from the Offering,
and the Company's objective of re-establishing Yellowknife as one of the premier gold mining districts in
Canada.
There can be no assurance that such statements will prove to be accurate, as the Company's actual
results and future events could differ materially from those anticipated in this forward-looking information
as a result of the factors discussed in the "Risk Factors" section in the Company's most recent MD&A
and annual information form available under the Company's profile at www.sedar.com.
Although the Company has attempted to identify important factors that would cause actual results to
differ materially from those contained in forward-looking information, there may be other factors that
cause results not to be as anticipated, estimated or intended. The forward-looking information contained
in this news release is based on information available to the Company as of the date of this news release.
There can be no assurance that such statements will prove to be accurate, as actual results and future
events could differ materially from those anticipated in such statements. All of the forward-looking
information contained in this news release is qualified by these cautionary statements. Readers are
cautioned not to place undue reliance on forward-looking information due to the inherent uncertainty
thereof. Except as required under applicable securities legislation and regulations applicable to the
Company, the Company does not intend, and does not assume any obligation, to update this forward-
looking information.