Gold Terra Announces Funding Package of C$4,400,000 with support from Osisko Gold Royalties
Gold Terra Resource Corp (OTCQB:YGTFF) has secured a C$4.4 million funding package, comprising a C$2.4 million non-brokered financing and C$2 million from Osisko Gold Royalties. The financing includes C$1 million through issuing 20 million common shares at $0.05 per share and C$1.4 million via 20 million charitable flow-through shares at $0.07 per share.
Osisko Gold Royalties has elected to early exercise its first tranche royalty option for a 2% NSR royalty on Gold Terra's Yellowknife Property. The financing, expected to close around April 11, 2025, will support drilling programs at the Con Mine Option property, which historically produced 5.1 Moz of gold at an average grade of 16 g/t.
Company insiders will participate by purchasing 2,160,000 shares. The proceeds will fund Canadian exploration expenses in the Northwest Territories before December 31, 2026.
Gold Terra Resource Corp (OTCQB:YGTFF) ha ottenuto un pacchetto di finanziamento di C$4,4 milioni, composto da un finanziamento non intermediazione di C$2,4 milioni e C$2 milioni da Osisko Gold Royalties. Il finanziamento include C$1 milione tramite l'emissione di 20 milioni di azioni ordinarie a $0,05 per azione e C$1,4 milioni tramite 20 milioni di azioni di beneficenza a flusso passante a $0,07 per azione.
Osisko Gold Royalties ha scelto di esercitare anticipatamente la sua opzione di royalty della prima tranche per una royalty del 2% NSR sulla proprietà Yellowknife di Gold Terra. Si prevede che il finanziamento si chiuda intorno all'11 aprile 2025 e supporterà i programmi di perforazione presso la proprietà Con Mine Option, che storicamente ha prodotto 5,1 Moz di oro con un grado medio di 16 g/t.
I membri interni dell'azienda parteciperanno acquistando 2.160.000 azioni. I proventi finanzieranno le spese di esplorazione canadese nei Territori del Nord-Ovest prima del 31 dicembre 2026.
Gold Terra Resource Corp (OTCQB:YGTFF) ha conseguido un paquete de financiamiento de C$4,4 millones, compuesto por un financiamiento no intermediado de C$2,4 millones y C$2 millones de Osisko Gold Royalties. El financiamiento incluye C$1 millón mediante la emisión de 20 millones de acciones ordinarias a $0,05 por acción y C$1,4 millones a través de 20 millones de acciones benéficas de flujo a $0,07 por acción.
Osisko Gold Royalties ha optado por ejercer anticipadamente su opción de regalías de la primera tranche para una regalía del 2% NSR sobre la propiedad Yellowknife de Gold Terra. Se espera que el financiamiento se cierre alrededor del 11 de abril de 2025, y apoyará los programas de perforación en la propiedad Con Mine Option, que históricamente produjo 5,1 Moz de oro con un grado promedio de 16 g/t.
Los miembros internos de la empresa participarán comprando 2.160.000 acciones. Los ingresos financiarán los gastos de exploración canadiense en los Territorios del Noroeste antes del 31 de diciembre de 2026.
Gold Terra Resource Corp (OTCQB:YGTFF)는 C$4.4 백만의 자금 패키지를 확보했습니다. 이 패키지는 C$2.4 백만의 비중개 자금 조달과 Osisko Gold Royalties로부터 C$2 백만으로 구성됩니다. 자금 조달에는 20 백만 주식을 주당 $0.05에 발행하여 C$1 백만을 포함하고, 20 백만 자선 흐름주식을 주당 $0.07에 발행하여 C$1.4 백만을 포함합니다.
Osisko Gold Royalties는 Gold Terra의 Yellowknife 자산에 대한 2% NSR 로열티의 첫 번째 트랜치 로열티 옵션을 조기 행사하기로 결정했습니다. 이 자금 조달은 2025년 4월 11일경에 마감될 것으로 예상되며, 역사적으로 5.1 Moz의 금을 평균 16 g/t의 품질로 생산한 Con Mine Option 자산의 드릴링 프로그램을 지원할 것입니다.
회사의 내부자는 2,160,000주를 구매하여 참여할 것입니다. 수익금은 2026년 12월 31일 이전에 북서부 준주에서의 캐나다 탐사 비용을 지원할 것입니다.
Gold Terra Resource Corp (OTCQB:YGTFF) a sécurisé un financement de 4,4 millions de dollars canadiens, comprenant un financement non intermédié de 2,4 millions de dollars canadiens et 2 millions de dollars canadiens d'Osisko Gold Royalties. Le financement inclut 1 million de dollars canadiens par l'émission de 20 millions d'actions ordinaires à 0,05 $ par action et 1,4 million de dollars canadiens via 20 millions d'actions de bienfaisance à flux à 0,07 $ par action.
Osisko Gold Royalties a choisi d'exercer de manière anticipée son option de redevance de première tranche pour une redevance de 2 % NSR sur la propriété Yellowknife de Gold Terra. Le financement, qui devrait se clôturer autour du 11 avril 2025, soutiendra les programmes de forage sur la propriété Con Mine Option, qui a historiquement produit 5,1 Moz d'or avec une teneur moyenne de 16 g/t.
Les initiés de l'entreprise participeront en achetant 2 160 000 actions. Les produits financeront les dépenses d'exploration canadiennes dans les Territoires du Nord-Ouest avant le 31 décembre 2026.
Gold Terra Resource Corp (OTCQB:YGTFF) hat ein Finanzierungsangebot in Höhe von C$4,4 Millionen gesichert, das aus einer nicht vermittels Finanzierungsrunde in Höhe von C$2,4 Millionen und C$2 Millionen von Osisko Gold Royalties besteht. Die Finanzierung umfasst C$1 Million durch die Ausgabe von 20 Millionen Stammaktien zu je $0,05 pro Aktie und C$1,4 Millionen durch 20 Millionen gemeinnützige Flow-Through-Aktien zu je $0,07 pro Aktie.
Osisko Gold Royalties hat sich entschieden, seine erste Tranche der Royalty-Option vorzeitig auszuüben, um eine 2% NSR-Royalty auf die Yellowknife-Immobilie von Gold Terra zu erhalten. Die Finanzierung, die voraussichtlich um den 11. April 2025 abgeschlossen wird, wird die Bohrprogramme auf dem Con Mine Option Grundstück unterstützen, das historisch 5,1 Moz Gold mit einem Durchschnittsgehalt von 16 g/t produziert hat.
Unternehmensinsider werden teilnehmen, indem sie 2.160.000 Aktien kaufen. Der Erlös wird die kanadischen Explorationskosten in den Nordwest-Territorien bis zum 31. Dezember 2026 finanzieren.
- Secured substantial C$4.4 million funding package
- Early exercise of royalty option by Osisko Gold Royalties demonstrates strong institutional support
- Insider participation in financing shows management confidence
- Funding enables continued exploration of historically productive Con Mine property
- Share dilution through issuance of 40 million new shares
- Sale of 2% NSR royalty reduces future revenue potential
- Four-month hold period restricts immediate share trading
VANCOUVER, BC / ACCESS Newswire / March 31, 2025 / Gold Terra Resource Corp. (TSX-V:YG)(Frankfurt:TX0)(OTCQB:YGTFF) ("Gold Terra" or the "Company") is pleased to announce a non-brokered financing of C
In addition to the closing of the Financing of C
The Financing is expected to close on or about April 11, 2025, and is subject to certain conditions including, but not limited to, the receipt of all necessary regulatory and other approvals including the acceptance of the TSX Venture Exchange.
Insiders of Gold Terra are expected to participate in the Financing by purchasing an aggregate of 2,160,000 Shares. Such participation in the Financing constitutes a "related party transaction" as defined in Multilateral Instrument 61-101 - Protection of Minority Security Holders in Special Transactions ("61-101"). The Financing is exempt from the formal valuation and minority shareholder approval requirements of 61-101 as neither the fair market value of the securities issued to related parties nor the consideration for such securities exceed
All securities are subject to a four-month hold period from the date of closing.
The Company will use an amount equal to the gross proceeds from the sale of CFT Shares, pursuant to the provisions in the Income Tax Act (Canada), to incur eligible "Canadian exploration expenses" that qualify as "flow-through mining expenditures" as both terms are defined in the Income Tax Act (Canada) (the "Qualifying Expenditures") related to the Company's projects in the Northwest Territories, on or before December 31, 2026, and to renounce all the Qualifying Expenditures in favour of the subscribers of the CFT Shares effective December 31, 2025.
Gerald Panneton, Chairman & CEO commented, "We are pleased to offer this opportunity to investors to participate in this proposed financing for a total of C
The current drill program at the Con Mine is aimed at increasing our current Indicated and Inferred resource (MRE October 2022) near surface and south of the Con Mine, targeting the prolific Campbell Shear structure which produced 14 Moz of gold at an average grade of 16-22 g/t Au. The current drilling is targeting below the existing underground workings, where the potential exists to add significant free milling high grade ore. The Con Mine property has excellent infrastructure including the Robertson shaft, water treatment plan (2015), warehouse and offices, etc. The Con Mine closed in 2003, with approximately 650,000 ounces at 11-12 g/t Au in historic reserves and combined resources. Please refer to the October 21, 2022 technical report, titled "Initial Mineral Resource Estimate for the CMO Property, Yellowknife City Gold Project, Yellowknife, Northwest Territories, Canada" with an effective date of September 2, 2022, by Qualified Person, Allan Armitage, Ph. D., P. Geo., SGS Geological Services, which can be found on the Company's website at https://www.goldterracorp.com and on SEDAR+ at www.sedarplus.ca.
*Note: The Historic Reserves and Resources quoted above are historical in nature and are not NI 43-101 compliant. They were compiled and reported by MNML during its operation and closure of the Con Mine (2003). The historical estimates are historical in nature and should not be relied upon, however, they do give indications of mineralization on the property. The Qualified Person has not done sufficient work to classify them as current Mineral Resources or Mineral Reserves and Gold Terra is not treating the historical estimates as current Mineral Resources or Mineral Reserves.
The technical information contained in this news release has been reviewed and approved by Joseph Campbell, a Qualified Person as defined in National Instrument 43-101 - Standards of Disclosure for Mineral Projects and Senior Technical Advisor for the Company.
About Gold Terra
The Yellowknife Project (YP) encompasses 918 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 10 kilometres 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 approximately 14 Moz of gold has been produced, (refer to Gold Terra Oct 21, 2022, Technical Report) and most recently on the Con Mine Option (CMO) property claims immediately south of the past producing Con Mine which produced 6.1 Moz between the Con, Rycon, and Campbell shear structures (1938-2003).
The YP and CMO properties lie on the prolific Yellowknife greenstone belt, covering nearly 70 kilometres of strike length along the main mineralized shear system that hosts 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
gpanneton@goldterracorp.com
Mara Strazdins, Investor Relations
Phone: 1-778-897-1590 | 604-689-1749 ext 102
strazdins@goldterracorp.com
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, including allowing the Company to continue its drilling program on the Con Mine Option property, the endorsement of the Company's assets by Osisko Gold Royalties 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.sedarplus.ca.
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.
Information Concerning Estimates of Mineral Resources
Mineral Resources that are not Mineral Reserves do not have demonstrated economic viability. Therefore, investors are cautioned not to assume that all or any part of an Inferred Mineral Resource could ever be mined economically. It cannot be assumed that all or any part of "Measured Mineral Resources," "Indicated Mineral Resources," or "Inferred Mineral Resources" will ever be upgraded to a higher category. The Mineral Resource estimates contained herein may be subject to legal, political, environmental or other risks that could materially affect the potential development of such mineral resources. Refer to the Technical Report, once filed, for more information with respect to the key assumptions, parameters, methods and risks of determination associated with the foregoing.
SOURCE: Gold Terra Resource Corp
View the original press release on ACCESS Newswire
FAQ
What is the total value of Gold Terra's (YGTFF) new funding package announced in March 2025?
How many shares is Gold Terra (YGTFF) issuing in its March 2025 financing?
What is the historical production record of the Con Mine that Gold Terra (YGTFF) is exploring?
What percentage NSR royalty did Osisko acquire on Gold Terra's (YGTFF) Yellowknife Property?
