NOT FOR DISSEMINATION IN THE UNITED STATES OR THROUGH U.S. NEWSWIRE SERVICES
Vancouver, British Columbia, April 16, 2025 (GLOBE NEWSWIRE) -- Terra Balcanica Resources Corp. (“Terra& or the “Company&) (CSE:TERA; FRA:UB1) is pleased to announce that it intends to complete a non-brokered, listed issuer financing exemption private placement (the “Private Placement&) for minimum gross proceeds of C$750,000, and maximum gross proceeds of up to C$1,117,495 through the issuance of up to 11,174,950 units (each a “Unit&) at a purchase price of C$0.10 per Unit. Each Unit will be comprised of one common share in the capital of the Company (“Common Share&) and one-half of one Common Share purchase warrant (each whole warrant, a “Warrant&). Each Warrant is exercisable to purchase one Common Share (“Warrant Share&) at an exercise price of C$0.20 per Warrant Share for a period of 24 months from the closing date of the Private Placement (the “Closing Date&).
Subject to compliance with applicable regulatory requirements, the Private Placement is being conducted pursuant to the listed issuer financing exemption under Part 5A of National Instrument 45-106 – Prospectus Exemptions. The securities issued to purchasers in the Private Placement will not be subject to a hold period under applicable Canadian securities laws. There is an offering document related to the Private Placement that can be accessed under the Company&s profile at www.sedarplus.ca and on the Company&s website at www.terrabresources.com. Prospective investors should read this offering document before making an investment decision.
The closing of the Private Placement is expected to occur on or about April 28th, 2025. The Company may pay finder&s fees to eligible parties who locate investors to participate in the Private Placement. The Private Placement is subject to the approval of the Canadian Securities Exchange. The Company intends to use the proceeds of the Private Placement to continue drilling the Company&s portfolio of mineral exploration properties in the western Balkans and for working capital purposes, as further described in the offering document.
This news release does not constitute an offer to sell, or a solicitation of an offer to buy, 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 U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.
Debt Settlement
The Company also announces that, further to its press release dated March 12th, 2025, it has completed its debt settlement with an arm&s length creditor by issuing 166,666 common shares of the Company at a deemed issue price of $0.09 per common share to settle outstanding debt in the amount of $15,000. The common shares are subject to a four-month hold period in accordance with applicable securities laws.
About the Company
Terra Balcanica is a polymetallic and energy metals exploration company targeting large-scale mineral systems in the Balkans of southeastern Europe and northern Saskatchewan, Canada. The Company has a 90% interest in the Viogor-Zanik Project in eastern Bosnia and Herzegovina. The Canadian assets comprise a 100% optioned portfolio of uranium-prospective licences at the outskirts of the 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 Miškovic&
Aleksandar Miškovic
President and CEO
For the complete information on this news release, please contact Aleksandar Miškovic 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 terms and completion of the Private Placement, the anticipated Closing Date, the payment of finder&s fees and the use of proceeds for the Private Placement. 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 Private Placement; the state of the equity financing markets in Canada and other jurisdictions; 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.
