Gold Terra Resource (YGT.V) after trade Thursday said it closed the second tranche of its non-brokered private placement that raised C$446,665.86.
The company placed nearly 2.5-million shares priced at C$0.18 each.
The financing has now raised total gross proceeds of C$10.8 million, with the final tranche set to close around Aug. 20, subject to customary conditions, the company added.
Proceeds will be used for general corporate purposes and to fund two drilling programs scheduled to start in July and August.