Exciting New Developments at Terra Clean Energy Corp.
Vancouver B.C. — Terra Clean Energy Corp. (“Terra” or the “Company”) (CSE: TCEC, OTCQB: TCEFF, FSE: C9O0) is thrilled to communicate recent advancements regarding its exploration initiatives. The company has officially entered into definitive agreements with arm’s length parties to acquire a significant interest in two key properties: the Wheel Anne Claims and the Green Vein Mesa Claims, both strategically located in the uranium-rich regions of Utah.
Commitment to Growth in the Uranium Sector
As part of its ongoing strategy, Terra is showing remarkable commitment to expanding its portfolio within popular uranium basins. Greg Cameron, CEO of Terra, expressed enthusiasm regarding these acquisitions: “The swift execution of the agreements emphasizes our dedication to these assets and the importance they hold in our portfolio of low-risk uranium assets.” He highlighted that the company plans to mobilize a team to Utah shortly to collaborate closely with local partners.
Key Acquisition Details
To achieve its respective interests in the Wheel Anne Claims and the Green Vein Mesa Claims, Terra will execute several financial commitments, including cash payments, share issuances, and noteworthy exploration expenditures over a predetermined timeline. Below are important elements concerning each claim:
Wheel Anne Claims Structure
The table below outlines the details of the financial commitments required to earn varying interests in the Wheel Anne Claims:
To earn a 20% interest:
- Cash Payment: USD$20,000 upon the Effective Date
- Share Issuance: 500,000 common shares within five business days of the Effective Date
- Exploration Expenditures: USD$100,000 before the first anniversary of the Effective Date
This structure continues with increasing interests leading up to a potential 100% stake, with payments and associated share issuances increasing proportionately.
Green Vein Mesa Claims Structure
Similarly, the commitments for the Green Vein Mesa Claims mirror those of the Wheel Anne Claims, starting with an initial payment of USD$10,000 for a 20% interest, followed by further incremental payments, shares, and expenditures as the ownership percentage increases. This strategic approach reflects the company's comprehensive plan to enhance its asset base in uranium exploration.
Strategic Royalty Agreements
Both the Wheel Anne Claims and the Green Vein Mesa Claims will involve a two percent (2%) net royalty retained by the vendors. Terra clean has the option to buy back fifty percent (50%) of the royalty for cash payments of USD$666,666 and USD$333,334 respectively.
Expansion and Market Awareness Initiatives
Besides the significant property acquisitions, Terra Clean has proactively engaged Green Crescent Capital (GCC) and OTCWagon (OTCW) to bolster its visibility within the investment community. GCC has been enlisted for marketing services, including the creation of digital content aimed at raising awareness among potential investors. Furthermore, the company will be involved in a brief yet intensive market awareness program through OTCW, designed to enhance investor outreach and engagement.
About Terra Clean Energy Corp.
Terra Clean Energy is advancing its presence as a prominent Canadian-based uranium exploration and development entity. Currently, the company is focused on developing the South Falcon East uranium project located within the Fraser Lakes B Uranium Deposit region of Saskatchewan, Canada. In addition, it is efficiently working towards the revival of past-producing uranium mines within the San Rafael Swell area, targeting sustainable energy solutions through uranium.
Contact Information
For more information, please connect with: Greg Cameron, CEO, at info@tcec.energy. Terra Clean Energy Corp. is based in Vancouver, Canada, with our office located at Suite 303, 750 West Pender Street, V6C 2T7. For more details about our operations, visit www.tcec.energy.
Frequently Asked Questions
What properties has Terra Clean Energy recently acquired?
Terra Clean Energy has acquired interests in the Wheel Anne Claims and Green Vein Mesa Claims located in Utah.
What is the total interest Terra Clean aims to achieve from these acquisitions?
The company aims to acquire up to a 100% interest in both properties.
What commitments are involved in the acquisition of the Wheel Anne Claims?
The commitments include cash payments, share issuances, and exploration expenditures over a specified timeline.
Who is involved in Terra Clean's marketing efforts?
Terra Clean has engaged Green Crescent Capital and OTCWagon for marketing and investor outreach initiatives.
Where is Terra Clean Energy Corp. headquartered?
The company is headquartered in Vancouver, British Columbia, Canada.
