ATERRA modifies private placement structure to raise up to $2.78 million

ATERRA Metals Inc. (CSE: ATC) (OTCQB: CSSCF) has modified the structure of its previously announced financing to a non-brokered private placement of up to 139 million units at $0.02 per unit, according to a company statement.

The Toronto-based mineral exploration company changed from a hybrid offering that included a portion under the listed issuer financing exemption to solely a prospectus-exempt private placement. Research Capital Corporation remains the exclusive finder for the offering.

Each unit will comprise one common share and one-half warrant, reduced from the previously contemplated full warrant. Each warrant will allow the holder to acquire one share at $0.05 per share for 36 months from the issuance date.

The structural change eliminates the need for shareholder consent required under Canadian Securities Exchange policies. Company insiders have indicated they intend to subscribe for up to 8.5 million units under the offering.

ATERRA plans to use proceeds to fund option payments and exploration activities at its Frontera, Taruca and Clinton copper-gold properties in Chile, plus working capital and general corporate purposes. The company targets commencing exploration activities in January 2026 in preparation for a Phase I drilling program during the first quarter.

The company is targeting the third quarter 2026 for issuing a preliminary 43-101-compliant resource estimate. Units will be offered to accredited investors under applicable prospectus exemptions, with shares and warrants subject to a four-month and one-day statutory hold period.

The offering remains expected to close during the week of January 12, 2026, subject to customary closing conditions. ATERRA may pay finder's fees of up to 7% for certain purchasers introduced by third parties.

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