Canterra Minerals Announces $2.0 Million Private Placement Led by Strategic Investor Michael Gentile and Other Strategic Investors to Fund Gold Exploration in Newfoundland

Core Viewpoint - Canterra Minerals Corporation announces a non-brokered private placement of C$2 million to support gold exploration efforts in Newfoundland, particularly at the Wilding gold project adjacent to Equinox Gold's Valentine Gold Mine, which has shown promising high-grade gold samples [1][2][3] Group 1: Private Placement Details - The private placement will involve the issuance of 16.6 million units at a price of C$0.12 per unit, resulting in gross proceeds of C$2 million [3] - Each unit consists of one common share and one-half of a common share purchase warrant, with each whole warrant allowing the purchase of an additional share at C$0.20 for 12 months [3] - The closing of the private placement is scheduled for around October 30, 2025, subject to necessary approvals [5] Group 2: Use of Proceeds - Proceeds from the private placement will be allocated to the exploration of the Wilding Lake Gold Project and for general working capital purposes [4] - The company aims to mobilize a drill rig promptly to follow up on high-grade gold results from the Wilding Gold Project [3] Group 3: Company Overview - Canterra Minerals is focused on critical minerals and gold exploration in central Newfoundland, with projects located near historically significant mining sites [7] - The company's gold projects are strategically positioned along a structural corridor that hosts mineralization within Equinox Gold's mine project [7]