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Gold Terra Resource Closes Final Tranche of C$10.1 Million Financing

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Gold Terra Resource (YGT.V) after trade Thursday closed the third and final tranche of a private placement, issuing 4.9-million shares at C$0.18 per share for gross proceeds of C$884,801.

The company said it raised C$10.1 million in total through the offering. The funds will be used for general corporate purposes and two drilling programs, including the northern extension of the Campbell Shear target Zone 103N and the Con Mine historical on-site tailings.

"The offering is non-brokered with no warrants and is subject to the final acceptance of the TSXV," it added.

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