VANCOUVER, British Columbia — December 24, 2025 — Leads & Copy —
Canterra Minerals Corporation (TSXV:CTM) (OTCQB:CTMCF) (FSE:DXZB) has announced the closing of its private placement consisting of Critical Minerals flow-through shares and National flow-through shares for total gross proceeds of $5,705,361.51.
The company issued 10,980,000 Critical Minerals flow-through shares at a price of $0.25 per share for gross proceeds of C$2,745,000. Each share comprises one common share of the Company issued as a flow-through share designated as a “Critical Mineral flow-through share” within the meaning of the Income Tax Act (Canada).
Canterra Minerals also issued 12,871,137 National flow-through shares at a price of $0.23 per share for gross proceeds of C$2,960,361.51. Each share comprises one common share issued as a flow-through share designated as a “flow-through share” within the meaning of the Income Tax Act (Canada).
The company intends to use the net proceeds from the Private Placement for the exploration of the Company’s projects in central Newfoundland, including its Wilding Gold and Buchans Projects. All figures are in Canadian dollars.
The gross proceeds from the issuance of the shares will be used for Canadian exploration expenses and will qualify as “flow-through critical mineral mining expenditures” and “flow-through mining expenditures”, respectively, as defined in subsection 127(9) of the Income Tax Act. These expenditures will be incurred on or before December 31, 2026, and renounced to the subscribers of the shares with an effective date no later than December 31, 2025.
If the Qualifying Expenditures are reduced by the Canada Revenue Agency, the Company will indemnify each subscriber for any additional taxes payable as a result of the Company’s failure to renounce the Qualifying Expenditures as agreed.
In connection with the Private Placement, the Company paid finders fees of $50,000 cash and 135,848 non-transferable finders’ warrants. The 49,000 finders’ warrants issued in respect of subscriptions are exercisable at $0.25 per warrant and valid for 12 months from issuance. The 86,848 finders’ warrants issued in respect of subscriptions are exercisable at $0.23 per warrant and valid for 12 months from issuance.
The shares and finders’ warrants will be subject to a hold period ending April 24, 2026, under applicable Canadian securities laws.
Canterra is a diversified minerals exploration company focused on critical minerals and gold in central Newfoundland. The Company’s projects include six mineral deposits located in close proximity to the world-renowned Buchans Mine and Teck Resources’ Duck Pond Mine. Canterra’s gold projects are located on-trend of Equinox Gold’s Valentine mine currently under construction and cover a ~55 km extension of the same structural corridor that hosts mineralization within Equinox Gold’s mine project.
Chris Pennimpede, P.Geo., CEO of Canterra Minerals Corporation, has reviewed and approved the technical information in this press release.
Chris Pennimpede
President & CEO
+1 (604) 687-6644
Email: info@canterraminerals.com
Source: Canterra Minerals Corporation
