Gold Terra Completes Non-Brokered Private Placement

Gold Terra Resource Corp has announced the closing of the non-flow-through portion of its non-brokered private placement, raising C$510,000 through the sale of 10,200,000 common shares at C$0.05 each. An insider of the company subscribed for 2,000,000 shares, marking it as a related party transaction under Multilateral Instrument 61-101. However, the transaction was exempt from valuation and minority shareholder approval.

The funds will be used for exploration drilling on the Con Mine Option property, focusing particularly on the Campbell Shear target area. A finder's fee of 6% was paid to specific finders. Additionally, the company announced a preliminary closure of a charitable flow-through offering, securing C$1,134,000.