Terra Balcanica Extends Private Placement Financing
Terra Balcanica Resources Corp. (“Terra” or the “Company”) (CSE:TERA; FRA:UB1) has exciting news regarding its financing efforts. The Company has announced an extension to the closing of the fourth and final tranche of its previously announced non-brokered private placement financing, which is set to raise up to 14,500,000 units. Priced at $0.10 per unit, this offering aims to collect aggregate gross proceeds up to $1,450,000.
Funding Progress and Extension Details
So far, Terra has successfully raised about $948,760 from this offering. They have received an extension from the Canadian Securities Exchange to continue the Offering until November 1. However, the Company is eager to finalize the process as quickly as possible, reflecting their commitment to advancing their financial strategies.
Understanding the Offering Structure
Each unit in this offering is composed of one common share of the Company, along with one common share purchase warrant. These warrants grant the holder the right to purchase one common share at an exercise price of $0.15 for 36 months following the date of issuance. Further details about this offering can be referenced in the Company’s press release.
Strategic Use of Funds
Terra Balcanica plans to allocate the net proceeds from this financing primarily for working capital and to support its field campaign across its diverse portfolio of properties located in Saskatchewan and the Balkans. This intentional focus on enhancing operational capabilities underscores their growth-oriented strategy.
Company Background and Operations
Terra Balcanica is dedicated to exploring polymetallic and energy metals. With a strategic focus on significant mineral systems, their operations encompass regions in southeastern Europe and northern Saskatchewan, Canada. The Company boasts a 90% interest in the Viogor-Zanik Project in Bosnia and Herzegovina, along with full ownership of the Ceovishte mineral exploration licence in Serbia. Additionally, in Canada, they hold a 100% optioned portfolio of uranium-prospective licenses, positioning them for success in the highly regarded Athabasca basin.
Commitment to Community and Sustainability
Terra Balcanica values responsible engagement with both local communities and stakeholders. They are dedicated to implementing Good International Industry Practices (GIIP) and adhering to sustainable management in health, safety, and environmental aspects. This focus not only strengthens their operational framework but also cultivates a positive impact on the regions they operate in.
Leadership and Contact Information
The leadership at Terra is committed to guiding the Company towards its ambitious objectives. Aleksandar Miškovi?, the President and CEO, emphasizes the need to push forward with innovative approaches and strategic financing to bolster growth.
For additional information on this press release or inquiries concerning the Company, please reach out to Aleksandar Miškovi? at amiskovic@terrabresources.com or call +1 (514) 796-7577. More details can also be found on their official website.
Frequently Asked Questions
What is the purpose of Terra Balcanica's private placement financing?
The private placement financing aims to raise funds for working capital and support exploration efforts across their portfolio in Saskatchewan and the Balkans.
How many units does Terra Balcanica intend to issue?
Terra Balcanica plans to issue up to 14,500,000 units in this offering.
What rights do the warrants provide to holders?
The warrants allow holders to purchase one common share at an exercise price of $0.15 for a duration of 36 months from issuance.
In which countries does Terra Balcanica operate?
Terra Balcanica operates in southeastern Europe, particularly in Bosnia and Herzegovina and Serbia, as well as in Saskatchewan, Canada.
What is Terra's commitment to sustainability?
Terra Balcanica is dedicated to implementing Good International Industry Practices and focusing on sustainable health, safety, and environmental management.
