ATERRA Metals Inc. (CSE: ATC, OTCQB: CSSCF), which is exploring for copper and gold in Chile, said on September 29, 2026 that it had entered into an agreement with Research Capital Corporation as lead agent and sole bookrunner, on behalf of a syndicate of agents, for a brokered, best-efforts private placement of common shares at $0.06 each. The offering is for a minimum of $4,000,000 and a maximum of $6,000,000 in gross proceeds.
Best efforts means the agents undertake to sell the shares without committing to buy any themselves, as underwriters would in a bought deal, so the size of the raise depends on demand; $4,000,000 is the stated minimum. The agents also hold an option to increase the offering by up to an additional 15% of the number of shares sold, exercisable by written notice up to two business days before closing.
The shares are being sold under the listed issuer financing exemption. That exemption lets a listed company raise money from the public on the strength of an offering document and its continuous disclosure record rather than a full prospectus, and, according to the release, shares sold this way are immediately free-trading under Canadian securities laws on closing. The offering document is available on SEDAR+ and on the company's website.
The offering is open in all provinces of Canada except Quebec and in other qualifying jurisdictions, including the United States, subject to applicable exemptions; the shares have not been registered under the U.S. Securities Act of 1933. The agents will receive a cash commission of 6.0% of gross proceeds and broker warrants equal to 6.0% of the shares sold, each exercisable for one share at the $0.06 issue price for 24 months after closing.
Closing is expected on or about October 14, 2026, or on another date the agents and the company agree, and is subject to regulatory approvals including the conditional approval of the Canadian Securities Exchange. Net proceeds are to fund the Phase II exploration program at the Totora Copper-Gold Project, covering infill and resource expansion drilling, geophysical surveys targeting grassroots prospects and preliminary metallurgical testing, as well as general working capital and corporate purposes.
Totora lies in the Dos Amigos Mining District of Region III, about 60 kilometres south of Vallenar. On September 24, 2026 the company announced a maiden Inferred Mineral Resource of 159.8 million tonnes grading 0.51% copper equivalent, comprising 0.30% copper and 0.15 grams per tonne gold, at a 0.2% copper cut-off. Inferred is the lowest-confidence resource category under Canadian disclosure rules, and infill drilling is the usual way of upgrading it.
The release discloses no insider participation. At $0.06 a share, a raise in this range means a large issuance measured in shares, so the final share count, together with any exercise of the agents' option, is the figure to look for when closing is announced. It will say more about the effect on the register than the dollar range does.
For the venture market the sequence is a familiar one: a maiden resource followed within days by a brokered financing to drill it out. Choosing a brokered listed issuer financing over a non-brokered placement puts a dealer syndicate behind the distribution and gives subscribers free-trading stock, at the cost of a 6.0% commission and broker warrants priced at the issue price.