Terra Balcanica Secures Significant Funding Through Placement
Terra Balcanica Completes Third Tranche of Private Placement
Terra Balcanica Resources Corp. (“Terra” or the “Company”) (CSE:TERA; FRA:UB1) is excited to share that it has successfully closed the third tranche of its private placement financing. This latest tranche raised $176,010 Canadian, contributing to a total of $948,760 in gross proceeds from this Offering thus far.
Details of the Private Placement Offering
The completed third tranche involved the issuance of 1,760,100 Units at a price of $0.10 per Unit. This notable oversubscription was driven by significant interest from investors, indicating robust confidence in the Company's potential. Earlier, on July 17, the Company decided to increase the Offering's total target to a maximum of $1,450,000, demonstrating its commitment to growth and success in the resource development sector.
Structure of the Units
Each Unit comprises one common share and a warrant that allows the holder to purchase an additional common share for $0.15 until September 13, 2027. This structure not only provides immediate capital but encourages long-term investment participation in Terra's future projects.
Use of Proceeds from the Offering
Terra is planning to utilize the net proceeds from this Offering primarily for working capital and to support its field campaign across various properties in Saskatchewan and the Balkans. This strategic move is essential for advancing the Company’s exploration initiatives and boosting its operational capabilities.
Regulatory Compliance and Future Plans
In line with Canadian securities regulations, all securities issued in this tranche are subject to a four-month hold period, concluding on January 14, 2025. The Offering is currently awaiting final approval from the Canadian Securities Exchange. Terra aims to finalize the last tranche of this Offering by early October, which will further enhance its financial position.
Overview of Terra Balcanica
Terra Balcanica is a significant player in the exploration of polymetallic and energy metals across southeastern Europe and northern Saskatchewan. The Company holds a 90% interest in the Viogor-Zanik Project located in Bosnia and Herzegovina and owns a 100% stake in the Ceovishte mineral exploration license in southern Serbia. Additionally, Terra holds fully optioned uranium-prospective licenses around the renowned Athabasca basin in Canada, making it a formidable entity in the mining and resources sector.
Commitment to Responsible Practices
With a commitment to sustainability, Terra Balcanica strives to engage responsibly with local communities and stakeholders. The Company emphasizes its adherence to Good International Industry Practices (GIIP) and aims for excellence in health, safety, and environmental management.
Conclusion
Through this successful financing phase, Terra Balcanica Resources Corp. continues to position itself as a dynamic and forward-thinking company in the mineral exploration market. The interest seen in this Offering highlights the confidence that investors have in the Company's strategic direction and growth potential.
Frequently Asked Questions
What is Terra Balcanica's latest financing achievement?
Terra Balcanica recently closed its third tranche of private placement financing, raising $176,010 Canadian.
How much has Terra Balcanica raised in total from this Offering?
The total gross proceeds raised from the Offering to date amount to $948,760.
What do the Units in this Offering consist of?
Each Unit consists of one common share and one purchase warrant that allows further purchase of common shares at $0.15 each.
What will the funds from this Offering be used for?
The net proceeds will primarily finance working capital and support field campaigns across their properties.
What projects does Terra Balcanica focus on?
Terra Balcanica concentrates on polymetallic and energy metals exploration in the Balkans and Saskatchewan, Canada.
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