The Canadian exploration company Terra Balcanica Resources Corp. (CSE: TERA; FRA: UB10) has successfully completed its capital increase under the Listed Issuer Financing Exemption. A total of CAD 1.12 million flowed into the company’s treasury in two tranches.
In the second and final tranche, which was closed on August 13, 2025, Terra raised CAD 302,581. For this, 3,025,809 so-called Units were issued at CAD 0.10 each. Each of these units consists of one share and half a warrant. Two half warrants constitute one Warrant, which can be converted into an additional share at CAD 0.20 within 24 months. Additionally, intermediaries received CAD 7,000 for their support, as well as 70,000 non-transferable warrants under the same terms.
The first tranche, with a volume of CAD 814,914 and 8,149,141 Units, had already been closed on July 11, 2025. This means the maximum possible amount has been reached.
Drilling in Bosnia is Imminent
According to CEO Aleksandar Mišković, the fresh capital will directly fund the Phase III drilling campaign at the Viogor-Zanik project in Bosnia. This is expected to begin shortly. Mišković is already on site to personally oversee the start of drilling at Brezani. The company anticipates a series of new updates on the progress in the coming days.
A member of the Board of Directors, Kim Oishi, also participated in the financing and subscribed for 25,809 Units. This insider deal is considered a “transaction with a related party” under Canadian securities law, but remains below the thresholds requiring special approvals.
The securities issued under the Listed Issuer Financing Exemption are not subject to any hold period in Canada. Only the warrants granted to intermediaries from the last tranche may be exercised starting December 14, 2025.
