Oreterra Announces $6,000,000 Private Placement to Support First-Ever Drilling of the Trek South Porphyry Copper-Gold Prospect, Golden Triangle, BC
Executive Summary
- Oreterra Metals Corp. announced a non‑brokered private placement to raise up to C$6,000,000 through the issuance of hard‑dollar (HD) units at $0.45 each and flow‑through (FT) units at $0.50 each.
- Proceeds will primarily fund the first field‑season drilling program at the newly identified Trek South porphyry copper‑gold prospect in British Columbia’s Golden Triangle, with remaining funds for general working capital.
- The offering includes a fiscal advisory agreement with Canaccord Genuity Corp., a 6% finder’s fee provision, and insider participation up to 10% of the total units.
Key Details
- Offering Structure
- HD Units: $0.45 per unit; each unit = 1 common share + 1 common share purchase warrant (exercise price $0.60, three‑year term).
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FT Units: $0.50 per unit; each unit = 1 flow‑through common share + 1 common share purchase warrant (same exercise terms as HD warrants).
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Aggregate Gross Proceeds: Up to C$6,000,000.
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Closing Date: Expected on or about March 20, 2026, subject to TSXV approval and other regulatory requirements.
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Use of Proceeds
- Majority for exploration drilling at the Trek South prospect (first‑ever field season).
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Net proceeds from HD Units for additional exploration activities at Trek and general working capital.
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Fiscal Advisory Agreement
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Canaccord Genuity Corp. to be compensated C$25,000 in HD Units priced at $0.45 per unit, subject to TSXV approval.
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Finder’s Fee: Up to 6% of the offering amount payable in cash, securities, or a combination thereof, as permitted by TSXV rules.
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Insider Participation: Insiders may purchase up to 10 % of the total units; exempt from MI 61‑101 valuation and minority shareholder approval thresholds.
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Hold Period: All securities issued will be subject to a four‑month‑plus‑one‑day hold period from the closing date, per Canadian securities law.
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Flow‑Through Shares: FT Shares qualify as flow‑through shares; gross proceeds from FT Shares must be used for eligible Canadian exploration expenses (C$6 M minimum) and renounced by Dec 31 2026 (expenditure by Dec 31 2027).
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Technical Reference: The Trek South prospect is described in a NI 43‑101 technical report dated Jan 20 2026; the report recommends two initial drilling phases for the 2026 field season.
Notable Quotes
- “The Trek South prospect represents one of the most compelling new targets in BC’s Golden Triangle, and this financing will enable us to commence our first field‑season drilling and advance the project toward resource definition,” – Kevin M. Keough, Chief Executive Officer.