ATERRA Metals Inc. (CSE: ATC) (OTCQB: CSSCF) is pleased to announce the closing of its previously announced brokered, best-efforts listed issuer financing exemption private placement offering of common shares of the Company at a price of $0.06 per Common Share for aggregate gross proceeds of $8,355,000. The Offering was led by Research Capital Corporation, as lead agent and sole bookrunner, on behalf of a syndicate of agents including Desjardins Capital Markets.

The Offering was completed by way of the listed issuer financing exemption under Part 5A of National Instrument 45-106 – Prospectus Exemptions and in reliance on the amendments to Part 5A of NI 45-106 set forth in Coordinated Blanket Order 45-935 – Exemptions from Certain Conditions of the Listed Issuer Financing Exemption. The Common Shares offered under the Listed Issuer Financing Exemption are not subject to resale restrictions pursuant to applicable Canadian securities laws.

The Company intends to use the net proceeds of the Offering to advance the Phase II exploration program at its Totora Copper-Gold Project, located in the Dos Amigos Mining District in Region III, Chile, and for general working capital and corporate purposes.

In connection with the Offering and services provided by the Agents, the Company paid aggregate cash fees of $410,167.90 and issued an aggregate of 6,669,465 broker warrants. Each Broker Warrant is exercisable to acquire one Common Share at the Issue Price for a period of two years. The Broker Warrants and the Common Shares issuable on exercise thereof are subject to a four-month hold period pursuant to applicable Canadian securities laws and the policies of the Canadian Securities Exchange.

This press release is not an offer to sell or the solicitation of an offer to buy the securities in the United States or in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to qualification or registration under the securities laws of such jurisdiction. The securities being offered have not been, nor will they be, registered under the United States Securities Act of 1933, as amended, and such securities may not be offered or sold within the United States or to, or for the account or benefit of, U.S. persons absent registration or an applicable exemption from U.S. registration requirements and applicable U.S. state securities laws.

ABOUT ATERRA Metals Inc.

ATERRA Metals Inc. is a mineral exploration company advancing copper-gold projects in Chile. The Company’s flagship Totora Copper-Gold Project is located in the Dos Amigos Mining District of Region III, Chile, approximately 60 kilometres south of Vallenar. The Project comprises the Taruca, Clinton, Frontera and Sevilla properties and hosts the Frontera, Totora, Algarrobilla and Clinton copper-gold porphyry systems, together with earlier-stage exploration targets. The Company holds its interests in the Project under option agreements.