Magna Terra Announces Upsize to Premium Flow-Through Private Placement

Core Viewpoint - Magna Terra Minerals Inc. has successfully increased its premium flow-through financing by $1,000,000, resulting in total gross proceeds of $2,000,000 due to significant investor interest [1][2]. Financing Details - The offering will consist of 14,814,812 premium flow-through common shares priced at $0.135 per share [2]. - The proceeds will be allocated to Canadian exploration expenses qualifying as flow-through critical mineral mining expenditures, primarily for the Humber Project in Newfoundland and the Rocky Brook Project in New Brunswick [3]. Insider Participation - The largest shareholder, Mr. Michael Gentile, who holds 19.2% of the company, will participate in the offering [2]. - The company will rely on exemptions from formal valuation and minority shareholder approval requirements under MI 61-101 due to the nature of the insider participation [4]. Regulatory Aspects - The offering is subject to approval by the TSX Venture Exchange, and all securities issued will have a regulatory hold period of four months and one day [5]. - The company may pay finder's fees in cash or securities as permitted by TSX Venture Exchange policies [5]. Company Overview - Magna Terra Minerals Inc. focuses on precious and critical metals exploration, with projects in Atlantic Canada and Argentina [6]. - The company is advancing its 100%-owned Humber Copper-Cobalt Project, Rocky Brook Gold and Critical Metals Project, and Cape Spencer Gold Project, while also maintaining a significant exploration portfolio in Argentina [6].