(CNSX:TERA.CN),(Frankfurt:UB1),(Frankfurt:UB10.F),
Vancouver, British Columbia, Feb. 26, 2025 (GLOBE NEWSWIRE) — Terra Balcanica Resources Corp. (“Terra” or the “Company“) (CSE:TERA; FRA:UB1) is pleased to announce closing of the second and final tranche of the previously announced non-brokered private placement financing (the “Offering“) of units (the “Units“) for gross proceeds of $442,000 Canadian, resulting in aggregate of $571,000 raised in the Offering.
The Company issued 4,420,000 Units in this round and an aggregate of 5,710,000 Units at a price of $0.10 per Unit pursuant to the Offering announced on January 21st, 2025. Each Unit consists of one common share in the capital of the Company (each a “Common Share“) and one Common Share purchase warrant (each a “Warrant“). Each Warrant issued in the final tranche of the Offering entitles the holder to purchase one Common Share at an exercise price of $0.15 until February 26th, 2028. Finders' fees in the amount of $28,840 were paid in this tranche of the Offering. Terra intends to use the net proceeds of the Offering for land holding costs and project payments as well as for working capital purposes.
Pursuant to applicable Canadian securities laws, all securities issued and issuable in connection with the closing of the second and final tranche of the Offering are subject to a four (4) month hold period ending June 27th, 2025. The Offering is subject to the approval of the Canadian Securities Exchange.
This news release does not constitute an offer to sell or a solicitation of an offer to sell any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act“) or any state securities laws, and may not be offered or sold within the United States, or to or for the account or benefit of any U.S. person or any person in the United States, unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available. “United States” and “U.S. Person” are as defined in Regulation S under the U.S. Securities Act.
Option Grant
The Company announces the grant of 2,900,000 incentive stock options (the “Options”) to certain officers, employees, advisors and consultants in accordance with the Company's stock option plan (the “Option Plan”). The Options are exercisable for C$0.105 per common share for a period of 5 years from date of issuance.
The Company's marketing and investor relation service provider Paradox Public Relations Inc. has been granted 500,000 options to be exercised at a price of C$0.105 per common share for a period of 60 months from the date of issuance with 125,000 options vesting quarterly for the next year.
About the Company
Terra Balcanica is a polymetallic and energy metals exploration company targeting large-scale mineral systems in the Balkans and northern Saskatchewan, Canada. The Company has 90% interest in the polymetallic (Sb-Ag-Zn-Pb-Au) Viogor-Zanik Project in eastern Bosnia and Herzegovina. The Canadian assets comprise a 100% optioned portfolio of uranium-prospective licences along the world-renowned Athabasca basin: Charlot-Neely Lake, Fontaine Lake, Snowbird, and South Pendleton. The Company emphasizes responsible engagement with local communities and stakeholders. It is committed to proactively implementing Good International Industry Practice (GIIP) and sustainable health, safety, and environmental management.
ON BEHALF OF THE BOARD OF DIRECTORS
Terra Balcanica Resources Corp.
“Aleksandar MiÅ¡ković”
Aleksandar Mišković
President and CEO
For the complete information on this news release, please contact Aleksandar Mišković at amiskovic@terrabresources.com, +1 (514) 796-7577, or visit www.terrabresources.com/en/news.
Cautionary Statement
This news release contains certain forward-looking information and forward-looking statements within the meaning of applicable securities legislation (collectively “forward-looking statements”). The use of any of the words “will”, “intends” and similar expressions are intended to identify forward-looking statements. Forward-looking statements contained in this press release include, but are not limited to, the use of proceeds for the Offering. These statements involve known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking statements. These forward-looking statements are based on a number of assumptions which may prove to be incorrect including, but not limited to, the ability to obtain regulatory approval for the Offering; volatility and sensitivity to market prices; volatility and sensitivity to capital market fluctuations; and fluctuations in metal prices. Such forward-looking statements should not be unduly relied upon. Actual results achieved may vary from the information provided herein as a result of numerous known and unknown risks and uncertainties and other factors. The Company believes the expectations reflected in those forward-looking statements are reasonable, but no assurance can be given that these expectations will prove to be correct. The Company does not undertake to update these forward-looking statements, except as required by law.
