Core Viewpoint - Magna Terra Minerals Inc. has successfully completed a non-brokered premium flow-through private placement, raising gross proceeds of $2,000,004.08 through the issuance of 14,814,845 common shares at a price of $0.135 per share [1][2]. Financing Details - The financing was oversubscribed, indicating strong investor demand, and was supported by the company's largest shareholder, Michael Gentile [2]. - The funds raised will be allocated to exploration programs at the Rocky Brook Project in New Brunswick and the Humber Project in Newfoundland and Labrador, where new discoveries were made earlier this summer [2][3]. - The company plans to provide further details on the phase two exploration programs for these projects in the coming days [2]. Shareholder Participation - Michael Gentile acquired 856,667 premium flow-through common shares for gross proceeds of $115,650.05, increasing his total holdings to 18,471,667 shares, which represents 17.4% of the outstanding shares [4]. - Gentile's participation is classified as a related party transaction but is exempt from formal valuation and minority approval requirements due to specific conditions outlined in securities laws [5]. Use of Proceeds - The gross proceeds from the share issuance will be used for Canadian exploration expenses that qualify as flow-through critical mineral mining expenditures, primarily for preliminary exploration at the Humber and Rocky Brook Projects [3]. Finder's Fees and Warrants - The company will pay a total of $54,985 in finder's fees and has issued 610,944 finders warrants, each exercisable into one common share at a price of $0.15 for 24 months [7]. Regulatory Compliance - All securities issued are subject to a regulatory hold period of four months and one day, pending final approval from the TSX Venture Exchange [8]. Company Overview - Magna Terra Minerals Inc. is focused on precious and critical metals exploration, with projects in Atlantic Canada and Argentina, aiming to generate shareholder value while minimizing dilution [9][10].