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Magna Terra Closes 2nd Tranche of Private Placement Financing
By: Marketwired .
Jun. 19, 2017 06:39 PM
TORONTO, ONTARIO -- (Marketwired) -- 06/19/17 -- Magna Terra Minerals Inc. ("Magna Terra" or the "Company") (TSX VENTURE:MTT) is pleased to announce the closing of the second tranche of its private placement for gross proceeds of $108,500 bringing the total amount raised to $794,546. In this tranche a total of 2,170,000 units (the "Units") were issued at $0.05 per Unit. Each Unit consists of one common share and one common share purchase warrant (the "Warrant"). Each Warrant entitles the holder to acquire one common share of the Company at a price of $0.08 until June 19, 2019. No finders fees were paid in conjunction with this portion of the private placement.
The shares and warrants issued in this closing are subject to a four month hold period ending on October 19, 2017. The private placement remains subject to the final approval of the TSX Venture Exchange.
About Magna Terra
Magna Terra is a junior mining exploration company with a portfolio of exploration projects in Quebec, and a large, very prospective exploration project portfolio in the emerging precious metals Province of Santa Cruz, Argentina.
Neither 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.
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