Gold Terra Closes Final Tranche of Financing Package Raising a Total of C$2.4 Million with Additional C$2 Million funding from Osisko Gold Royalties
Gold Terra Resource Corp (OTCQB:YGTFF) has successfully completed a C$2.4 million financing package, consisting of two components: C$1 million from issuing 20 million common shares at $0.05 per share, and C$1.4 million from 20 million charitable flow-through shares at $0.07 per share. Additionally, Osisko Gold Royalties has provided C$2 million through early exercise of its royalty option for a 2% NSR on Gold Terra's Yellowknife Property, bringing the total raised to C$4.4 million.
The funds will support drilling programs at the Con Mine Option property, which historically produced 5.1 Moz of gold at an average grade of 16 g/t. The current mineral resource includes 109,000 oz Indicated (7.55 g/t Au) and 432,000 oz Inferred (6.74 g/t Au) resources. Notable insider participation included 3.66 million shares purchased.
Gold Terra Resource Corp (OTCQB:YGTFF) ha completato con successo un pacchetto di finanziamento da 2,4 milioni di C$, composto da due componenti: 1 milione di C$ derivante dall'emissione di 20 milioni di azioni ordinarie a 0,05 C$ per azione e 1,4 milioni di C$ da 20 milioni di azioni flow-through caritatevoli a 0,07 C$ per azione. Inoltre, Osisko Gold Royalties ha fornito 2 milioni di C$ attraverso l'esercizio anticipato della sua opzione di royalty per un 2% NSR sulla proprietà Yellowknife di Gold Terra, portando il totale raccolto a 4,4 milioni di C$.
I fondi supporteranno i programmi di perforazione nella proprietà Con Mine Option, che in passato ha prodotto 5,1 milioni di once d'oro con una qualità media di 16 g/t. La risorsa minerale attuale comprende 109.000 oz Indicate (7,55 g/t Au) e 432.000 oz Inferred (6,74 g/t Au). Tra gli investitori interni spicca l'acquisto di 3,66 milioni di azioni.
Gold Terra Resource Corp (OTCQB:YGTFF) ha completado con éxito un paquete de financiamiento de 2,4 millones de C$, compuesto por dos componentes: 1 millón de C$ proveniente de la emisión de 20 millones de acciones comunes a 0,05 C$ por acción, y 1,4 millones de C$ de 20 millones de acciones flow-through caritativas a 0,07 C$ por acción. Además, Osisko Gold Royalties ha aportado 2 millones de C$ mediante el ejercicio anticipado de su opción de regalías para un 2% NSR sobre la propiedad Yellowknife de Gold Terra, elevando el total recaudado a 4,4 millones de C$.
Los fondos respaldarán los programas de perforación en la propiedad Con Mine Option, que históricamente produjo 5,1 millones de onzas de oro con una ley promedio de 16 g/t. El recurso mineral actual incluye 109.000 oz Indicadas (7,55 g/t Au) y 432.000 oz Inferidas (6,74 g/t Au). La participación notable de los insiders incluyó la compra de 3,66 millones de acciones.
Gold Terra Resource Corp (OTCQB:YGTFF)는 240만 캐나다 달러(C$) 규모의 자금 조달 패키지를 성공적으로 완료했습니다. 이 패키지는 두 가지 구성 요소로 이루어져 있는데, 0.05 C$에 2,000만 주의 보통주 발행을 통해 100만 C$를 조달했고, 0.07 C$에 2,000만 주의 자선 플로우스루 주식 발행을 통해 140만 C$를 조달했습니다. 또한, Osisko Gold Royalties는 골드 테라의 옐로우나이프 부동산에 대한 2% NSR 로열티 옵션의 조기 행사로 200만 C$를 제공하여 총 조달액을 440만 C$로 늘렸습니다.
이 자금은 과거에 5.1백만 온스의 금을 평균 등급 16 g/t으로 생산한 Con Mine Option 부동산에서의 시추 프로그램을 지원할 예정입니다. 현재 광물 자원은 109,000 온스의 표시 자원(7.55 g/t Au)과 432,000 온스의 추정 자원(6.74 g/t Au)을 포함합니다. 내부자 참여로는 366만 주의 주식 매입이 있었습니다.
Gold Terra Resource Corp (OTCQB:YGTFF) a réussi à compléter un financement de 2,4 millions de C$, composé de deux volets : 1 million de C$ provenant de l'émission de 20 millions d'actions ordinaires à 0,05 C$ par action, et 1,4 million de C$ issus de 20 millions d'actions flow-through caritatives à 0,07 C$ par action. De plus, Osisko Gold Royalties a apporté 2 millions de C$ via l'exercice anticipé de son option de redevance pour une NSR de 2 % sur la propriété Yellowknife de Gold Terra, portant le total levé à 4,4 millions de C$.
Les fonds soutiendront les programmes de forage sur la propriété Con Mine Option, qui a historiquement produit 5,1 millions d'onces d'or avec une teneur moyenne de 16 g/t. La ressource minérale actuelle comprend 109 000 oz indiquées (7,55 g/t Au) et 432 000 oz inférées (6,74 g/t Au). Une participation notable des initiés a inclus l'achat de 3,66 millions d'actions.
Gold Terra Resource Corp (OTCQB:YGTFF) hat erfolgreich ein Finanzierungspaket in Höhe von 2,4 Mio. C$ abgeschlossen, das aus zwei Komponenten besteht: 1 Mio. C$ durch die Ausgabe von 20 Millionen Stammaktien zu je 0,05 C$ und 1,4 Mio. C$ durch 20 Millionen wohltätige Flow-Through-Aktien zu je 0,07 C$. Zusätzlich hat Osisko Gold Royalties durch die vorzeitige Ausübung seiner Royalty-Option für 2 % NSR auf das Yellowknife-Grundstück von Gold Terra 2 Mio. C$ bereitgestellt, womit die Gesamtsumme auf 4,4 Mio. C$ steigt.
Die Mittel werden die Bohrprogramme auf dem Con Mine Option-Grundstück unterstützen, das historisch 5,1 Mio. Unzen Gold mit einem durchschnittlichen Gehalt von 16 g/t produziert hat. Die aktuellen Mineralressourcen umfassen 109.000 Unzen Indicated (7,55 g/t Au) und 432.000 Unzen Inferred (6,74 g/t Au). Bemerkenswert war die Beteiligung von Insidern, die 3,66 Millionen Aktien kauften.
- Secured total funding of C$4.4 million through financing and royalty option exercise
- Strong insider participation with 3.66 million shares purchased
- Current mineral resource shows high-grade gold content (7.55 g/t Au Indicated, 6.74 g/t Au Inferred)
- Project has existing infrastructure including shaft, water treatment plant, and offices
- Historical production of 5.1 Moz gold at 16 g/t demonstrates property's potential
- Significant share dilution with issuance of 40 million new shares
- 2% NSR royalty granted to Osisko reduces future revenue potential
- Additional drilling required to upgrade/verify resource estimates
VANCOUVER, BC / ACCESS Newswire / May 12, 2025 / Gold Terra Resource Corp. (TSXV:YGT)(Frankfurt:TX0)(OTCQB:YGTFF) ("Gold Terra" or the "Company") is pleased to announce it has closed the second and final tranche of a non-brokered financing raising a total of C
In addition to the closing of the Financing at C
A finder's fee of
Insiders of Gold Terra participated in the Financing by purchasing a total aggregate of 3,660,000 Shares which includes insider participation of 1,500,000 Shares in the second tranche. 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 expiring on August 12, 2025, on the first tranche and a four-month hold expiring on September 13, 2025, on the second tranche.
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 favor of the subscribers of the CFT Shares effective December 31, 2025.
Gerald Panneton, Chairman & CEO commented, "We are very pleased to have raised $C2.4 million with an additional C
The current drill program at the Con Mine is aimed at increasing our current Indicated and Inferred resource (MRE October 2022 table below) near surface and south of the Con Mine, targeting the prolific Campbell Shear structure.
Area | Category | Cut-off Grade (g/t Au) | Tonnes | Grade (g/t Au) | Contained Gold Ounces |
CMO Property | |||||
Yellorex Main | Indicated /UG | 3.5 | 821,000 | 7.55 | 109,000 |
Inferred/UG | 3.5 | 993,000 | 6.89 | 220,000 | |
Yellorex North | Inferred/UG | 3.5 | 463,000 | 7.42 | 111,000 |
Kam Point | Inferred/UG | 3.5 | 536,000 | 5.83 | 101,000 |
Total: | Indicated/UG | 3.5 | 821,000 | 7.55 | 109,000 |
Inferred/UG | 3.5 | 1,992,000 | 6.74 | 432,000 |
The classification of the current Mineral Resource Estimate into Indicated and Inferred is consistent with current 2014 CIM Definition Standards - For Mineral Resources and Mineral Reserves.
Additional drilling will be required to upgrade/verify the resource estimates.
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 when Gold Price was around US
* 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) . Con Mine Ore Reserve Statement January 1st 2003, including:
Mineral Reserves | ||||
Proven | 171,000 | 11.31 | 62,000 | |
Probable | 340,000 | 11.66 | 126,000 | |
Mineral Resources | ||||
Measured | 408,000 | 12.03 | 158,000 | |
Indicated | 875,000 | 10.97 | 304,000 |
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. Parameters for the resource/reserve categories listed above are not known.
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
How much money did Gold Terra (YGTFF) raise in their May 2025 financing?
What is Gold Terra's current mineral resource at the Con Mine property?
What was the historical production at Gold Terra's Con Mine?
How will Gold Terra use the proceeds from the May 2025 financing?
What was the insider participation in Gold Terra's financing?
