Vancouver, British Columbia – January 28th 2025 – Terra Balcanica Resources Corp. (“Terra” or the “Company”) (CSE:TERA; FRA:UB1) is pleased to announce closing of the 1st tranche of the previously announced non-brokered private placement financing (the “Offering”) of units (the ”Units”) for gross proceeds of $129,000 Canadian.
The Company issued an aggregate of 1,290,000 Units at a price of $0.10 per Unit pursuant to the Offering of up to $400,000 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 first tranche of the Offering entitles the holder to purchase one Common Share at an exercise price of $0.15 until January 28th, 2028. Finders’ fees in the amount of $6,930 were paid. Terra intends to use the net proceeds of the Offering for land holding costs, project payments and for general corporate and working capital purposes.
Pursuant to applicable Canadian securities laws, all securities issued and issuable in connection with the closing of the third tranche of the Offering are subject to a four (4) month hold period ending May 29th, 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.
