Altamira Gold Secures CAD 4M Funding from Aura Minerals and Crescat Portfolio Management

Altamira Gold Corp. announced a private placement of up to 40 million units at CAD 0.10 per unit for gross proceeds of up to CAD 4 million. The transaction includes participation from investors Crescat Portfolio Management LLC and Aura Minerals Inc. Closing is expected this month, subject to TSX Venture Exchange approval. All securities issued will be subject to a four-month hold period.

Altamira Gold Corp. (TSXV: ALTA) (FSE: T6UP) (OTC Pink: EQTRF) has announced a non-brokered private placement (the "Offering") of up to 40 million units at a price of CAD 0.10 per unit, raising gross proceeds of up to CAD 4 million. The transaction includes participation from returning investors Crescat Portfolio Management LLC and Aura Minerals Inc. [1]

Each unit will comprise one common share and one-half common share purchase warrant, exercisable into one additional common share at CAD 0.15 per share for a period of 24 months from the closing of the offering. The funds will be used for follow-up drilling at the Maria Bonita porphyry gold resource, the Central Area Mineral Resources, and other targets within the Cajueiro project. Additional exploration programs and general working capital will also be supported [1].

The company's President & CEO, Michael Bennett, commented, "The maiden resources at Maria Bonita significantly increase the known resource base, effectively doubling Altamira's Indicated and Inferred resources when combined with Cajueiro Central. With consistent near-surface gold mineralization and nine drill-ready targets so far identified within the district, this financing will allow us to advance drilling on many of the high-priority targets. We're focused on expanding known resources and unlocking further potential across the broader Cajueiro gold district." [1]

Closing of the Offering is expected this month and is subject to the approval of the TSX Venture Exchange. All securities issued pursuant to the Offering will be subject to a four-month hold period under Canadian securities laws and the policies of the TSX Venture Exchange, as applicable [1].

References:
[1] https://www.marketscreener.com/quote/stock/ALTAMIRA-GOLD-CORP-49478499/news/Altamira-Gold-Announces-Non-Brokered-Private-Placement-of-up-to-C-4-Million-with-Lead-Order-from-Str-50212860/