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Magna Terra Minerals Inc. Announces The Closing of a $4.987 Million Private Placement and Completion of the Acquisition of Advanced Exploration Assets from Anaconda Mining

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Magna Terra Minerals Inc.

On August 4, 2020, Magna Terra announced the closing a $4.987 million non-brokered private placement and the completion of the acquisition of advanced exploration assets in Atlantic Canada from Anaconda Mining.

In connection with the acquisition, Magna Terra issued to Anaconda Mining a total of 12,493,482 common shares of the Company on a post Consolidation bassis. The acquisition constitutes a reverse take-over transaction under the rules and policies of the TSX Venture Exchange.  

A Fasken team including Frank Mariage, Jean-Philippe Côté and Youssef Fichtali advised Magna terra in connection with this transaction.