Canter Resources Announces Closing of Non-Brokered Private Placement

Executive Summary

• Canter Resources Corp. closed a non‑brokered private placement, raising gross proceeds of $1,050,000.
• The offering consisted of 5,250,000 units at $0.20 per unit, each unit containing one common share and half of a transferable warrant exercisable at $0.26 for two years.
• Net proceeds will be used to advance the Columbus and Railroad Valley lithium‑boron projects, evaluate additional targets, and fund general working capital.

Key Details

• Units Issued: 5,250,000 (each = 1 common share + ½ warrant).
• Price per Unit: $0.20 → Gross proceeds: $1,050,000.
• Warrant Terms: Whole warrant purchasable for one additional share at $0.26; exercisable for two years from issuance.
• Insider Participation: Insiders purchased 225,000 units (a related‑party transaction under MI 61‑101).
• No Finder’s Fees were paid in connection with the placement.
• Lock‑up/Hold Periods: All securities subject to statutory hold periods in Canada and a voluntary 12‑month lock‑up.
• Use of Proceeds:
• Continue drilling and development at the Columbus Lithium‑Boron Project.
• Advance work on the Railroad Valley Lithium‑Boron Project.
• Evaluate and pursue additional lithium‑boron projects.
• General working capital.

Notable Quotes

(No direct quotes were included in the release.)