ATERRA Metals raises $2.78 million in private placement

ATERRA Metals Inc. (CSE: ATC) (OTCQB: CSSCF) closed a non-brokered private placement financing for $2,780,000, the company announced. The offering consisted of 139 million units priced at $0.02 each.

Each unit includes one common share and one-half warrant. The warrants allow holders to purchase additional shares at $0.05 each for 36 months. Insiders and consultants purchased 13% of the offering, with Research Capital Corporation serving as exclusive finder.

The securities are subject to a four-month and one-day statutory hold period from the closing date. A director and officer purchased 6,750,000 units, making the transaction subject to related party provisions under Multilateral Instrument 61-101.

The company plans to use proceeds for option payments and exploration activities on its Clinton, Taruca and Frontera properties in Chile, collectively known as the Totora Properties. ATERRA intends to conduct mapping and geophysical surveys before beginning a Phase I drill program during the current fiscal quarter.

"With the financing closed, we will start exploring the Totora Properties, which host at least four previously drilled copper-gold porphyries including the Frontera Deposit," said Carl Hansen, ATERRA's CEO. The company aims to complete infill and expansion drilling to publish a NI 43-101-compliant resource estimate during the third quarter of 2026.

The company paid $2,000 in aggregate cash finder's fees. ATERRA is a mineral exploration company focused on opportunities in Chile, according to the press release.

You May Also Be Interested In

• Saba Capital funds reapprove merger plan targeting Q4 2026 close
• Boeing wins $174M in U.S. defense contracts for engines, training
• CleanTech Vanadium plans $1M private placement at $0.10 per unit