Gold Terra Announces Completion Of C$1.5M Strategic Investment By Newmont
12/03/21, 3:40 PM
Location
vancouverMoney raised
$1.5 million
Round Type
seed
("Gold Terra" or the "Company") is pleased to announce that it has completed the previously announced strategic investment in the Company by Newmont Corporation ("Newmont"), issuing 7,142,857 common shares of the Company (the "Shares") at a price of C$0.21 per share for gross proceeds of C$1.5 million, resulting in Newmont holding less than five percent (5%) of the issued and outstanding common shares of the Company. The proceeds from this investment are expected to be used primarily for exploration expenditures on the Con Mine property, recently optioned from Newmont (as announced on November 22, 2021). The Shares are subject to a statutory hold period expiring four months and one day from the closing, being April 4, 2022.
Company Info
Location
vancouver, washington, united states
Additional Info
The YCG project encompasses 800 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 YCG is close to vital infrastructure, including all-season roads, air transportation, service providers, hydro-electric power, and skilled tradespeople.
The YCG lies on the prolific Yellowknife greenstone belt, covering nearly 70 kilometres of strike length along the main mineralized shear system that host 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.