Aterra closes $2.78-million private placement

Executive Summary

• Aterra Metals Inc. closed a non-brokered private placement raising $2.78 million in aggregate gross proceeds.
• The offering consisted of 139 million units priced at $0.02 per unit, with each unit comprising one common share and one-half warrant exercisable at $0.05 per share for 36 months.
• Net proceeds will fund exploration, mapping, geophysical surveys, and a Phase 1 drill program on the Totora properties in Chile, targeting a NI 43-101 compliant resource estimate by Q3 2026.

Key Details

• Gross Proceeds: $2.78 million
• Units Issued: 139 million units at $0.02 per unit
• Warrant Terms: Each unit includes 0.5 warrant; warrants are exercisable for one common share at $0.05/share for a 36-month period
• Insider Participation: 13% of the offering (6.75 million units) purchased by a company director and officer
• Finder: Research Capital Corp. acted as exclusive finder; $2,000 in cash finders' fees paid
• Hold Period: 4 months and 1 day statutory hold from the closing date
• Use of Proceeds: Finance option payments, exploration activities on the Clinton, Taruca, and Frontera properties (collectively the Totora properties), working capital, and general corporate purposes
• Exploration & Drilling Plans: Commence mapping and geophysical surveys shortly; Phase 1 drill program to begin in the current fiscal quarter focusing on infill and expansion drilling to support a NI 43-101 compliant resource estimate by Q3 2026
• Regulatory/Transaction Structure: Classified as a related-party transaction under Multilateral Instrument 61-101; exemptions from formal valuation and minority shareholder approval relied upon as insider participation remained below 25% of market capitalization
• Qualified Person: Francisco Bravo (Chile), registered geologist who reviewed and approved technical information per NI 43-101

Notable Quotes

• Carl Hansen, CEO: "We are very thankful for the tremendous support received for this financing, not only from those who participated, but from our shareholders as well."
• Carl Hansen, CEO: "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. Considering the significant historical drilling completed on the Totora properties, our focus will be on infill and expansion drilling in preparation for publishing a NI 43-101-compliant resource estimate during the third quarter 2026."