Mr. Aleksandar Miskovic reports
TERRA BALCANICA CLOSES OVERSUBSCRIBED PRIVATE PLACEMENT FINANCING AND GRANTS STOCK OPTIONS
Terra Balcanica Resources Corp. has closed the second and final tranche of the previously announced non-brokered private placement financing of units for gross proceeds of $442,000, resulting in aggregate $571,000 raised in the offering.
The company issued 4.42 million units in this round and an aggregate of 5.71 million units at a price of 10 cents per unit pursuant to the offering announced on Jan. 21, 2025. Each unit consists of one common share in the capital of the company and one common share purchase warrant. Each warrant issued in the final tranche of the offering entitles the holder to purchase one common share at an exercise price of 15 cents until Feb. 26, 2028. Finders' fees in the amount of $28,840 were paid in this tranche of the offering. Terra intends to use the net proceeds of the offering for landholding costs and project payments, as well as for working capital purposes.
Pursuant to applicable Canadian securities laws, all securities issued and issuable in connection with the closing of the second and final tranche of the offering are subject to a four-month hold period ending June 27, 2025. The offering is subject to the approval of the Canadian Securities Exchange.
Option grant
The company announces the grant of 2.9 million incentive stock options to certain officers, employees, advisers and consultants in accordance with the company's stock option plan. The options are exercisable for 10.5 cents per common share for a period of five years from the date of issuance.
The company's marketing and investor relations service provider Paradox Public Relations Inc. has been granted 500,000 options to be exercised at a price of 10.5 cents per common share for a period of 60 months from the date of issuance with 125,000 options vesting quarterly for the next year.
About Terra Balcanica Resources Corp.
Terra Balcanica is a polymetallic and energy metal exploration company targeting large-scale mineral systems in the Balkans and Northern Saskatchewan, Canada. The company has a 90-per-cent interest in the polymetallic (antimony-silver-zinc-lead-gold) Viogor-Zanik project in eastern Bosnia and Herzegovina. The Canadian assets comprise a 100-per-cent optioned portfolio of uranium-prospective licences along the world-renowned 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 pro-actively implementing good international industry practice and sustainable health, safety and environmental management.
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