Canter Resources Corp. announced a non-brokered private placement of up to 8,000,000 units at a price of CAD 0.50 per unit for the gross proceeds of CAD 4,000,000 on November 28, 2023. Each unit will consist of one common share in the capital of the company and one-half of one transferrable common share purchase warrant.

Each warrant will entitle the holder to purchase one additional share at a price of CAD 0.7 for a period of 24 months from the closing of the offering. The company may pay finder's fees on the offering within the amounts permitted by the policies of the Canadian Securities Exchange. The company may issue additional units for total gross proceeds of up to approximately CAD 6 million.

The transaction is subject to a number of conditions, including receipt of all necessary corporate and regulatory approvals, including the CSE. All securities issued in connection with the Offering will be subject to a statutory hold period of four months plus a day from the date of issuance in accordance with applicable securities legislation.