Gold Terra Resource Corp. Announces Overnight Marketed Public Offering of up to Approximately C$6 Million
VANCOUVER, British Columbia, May 04, 2023 (GLOBE NEWSWIRE) -- 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 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 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 Supplements will be filed with the securities regulatory authorities in each of the provinces and territories of Canada, except Québec.