Gold Terra Resource to raise C$5M in stock offering

Feb. 09, 2022 3:31 PM ETGold Terra Resource Corp. (YGTFF), YGT:CABy: Khyathi Dalal, SA News Editor
  • Gold Terra Resource (OTCQX:YGTFF +2.3%) entered into an agreement with a syndicate of underwriters wherein they agreed to buy on a bought deal basis, charitable flow-through common shares, traditional flow-through common shares and shares.
  • Gross proceeds are expected to be at C$5M which will be used for expenditures which qualify as Canadian exploration expenses and flow-through mining expenditures.
  • The net proceeds from the sale will be used for working capital and general corporate purposes.
  • The charitable FT shares will be offered at a price of C$0.30, the traditional FT shares will be offered at a price of C$0.24, and the shares will be offered at a price of C$0.21.
  • Underwriters also granted option to purchase up to an additional 15% of the offering.
  • Offer is expected to close on or about Feb.28.

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