Exciting Offering Announcement from Terra Clean Energy Corp.
Vancouver B.C. — Terra Clean Energy Corp. (“Terra” or the “Company”) (CSE: TCEC, OTCQB: TCEFF, FSE: C9O0) is thrilled to unveil a non-brokered private placement aiming to issue a minimum of 10,000,000 units of the Company and potentially up to 19,520,350 Units, all priced at C$0.14 per Unit. This initiative is anticipated to generate minimum gross proceeds of C$1,400,000, with the possibility of reaching about C$2,732,849. Each Unit will comprise one common share and one-half of a common share purchase warrant, allowing holders to buy a full Common Share at C$0.17 within a specific timeline.
Investment Purpose and Benefits
The net proceeds from this Offering are earmarked to assist in funding the purchase of crucial claims in Utah, facilitate future exploration and development operations, and provide general working capital for the Company.
Closure Timeline and Conditions
Prospective closure for this Offering is projected around November 4, subject to customary closing conditions and regulatory approvals. This includes receiving necessary nods from the Canadian Securities Exchange.
Offering Mechanics and Exemptions
The Units will be available for eligible buyers within Canadian provinces and territories, except Quebec, optimizing compliance with the National Instrument 45-106 – Prospectus Exemptions. This setup means that Units acquired won’t be subjected to a hold period under Canadian securities laws.
Finder’s Fees and Commissions
To reward facilitating parties, the Company might offer a finder’s fee consisting of a cash commission that could reach up to 7% of the Offering’s total proceeds, alongside finder warrants which can be converted into Common Shares at a set price.
Understanding the Company’s Spectrum
Terra Clean Energy Corp. is a dedicated Canadian uranium exploration and development outfit. Known for its South Falcon East uranium project, the Company possesses a substantial resource of 6.96M pounds of inferred uranium within the Fraser Lakes B Deposit, located in the Athabasca Basin of Saskatchewan. In addition, Terra has historical ties to producing uranium mines in Utah.
Leadership and Expertise
Under the leadership of Greg Cameron, CEO, the team at Terra Clean Energy is committed to maintaining the highest standards in corporate governance and resource management.
Commitment to Transparency
As part of its governance, the technical information shared follows Canadian regulatory requirements in alignment with National Instrument 43-101, ensuring reliability and thoroughness across the Company’s endeavors. Historical resource data is available via the Technical Report on the South Falcon East Property, which underwent filing on sedarplus.ca earlier in the year.
Important Reminders for Investors
It is further emphasized that this communication does not signify an invitation to purchase or sell securities in any jurisdiction where such actions are prohibited. Strict compliance with regulatory norms is anticipated, considering the complexities surrounding U.S. sales.
Frequently Asked Questions
What is the purpose of Terra Clean Energy's recent offering?
The recent offering aims to gather funds for the purchase of Utah claims, support future exploration efforts, and contribute to general operational costs.
What are the terms associated with the Units being offered?
Each Unit includes one common share and a warrant, which grants the holder the right to purchase a Common Share at C$0.17 for a certain duration.
Who is eligible to invest in this offering?
Investments are open to residents in various provinces and territories of Canada, excluding Quebec, under the National Instrument 45-106 guidelines.
What notable projects is Terra Clean Energy involved in?
Terra Clean Energy is notably advancing the South Falcon East uranium project, which features a substantial inferred resource located in Saskatchewan.
Who should potential investors contact for information?
Greg Cameron, the CEO, is the point of contact for any inquiries regarding investments or company information.
