Vancouver, British Columbia – February 26th 2025 – 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.
