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

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