- Teras Resources (TRA) has completed the closing of the private placement of units
- Teras issued 21,497,000 units at a price of $0.05 per unit for gross proceeds of $1,074,850
- Proceeds will be used to repay an outstanding debt as well as for working capital
- Teras Resources is a junior mining exploration & development company
- Teras Resources Inc. is unchanged, trading at C$0.05 per share at 1:30 pm ET
Teras Resources (TRA) has completed the closing of the private placement of units, subject to final approval of the TSX Venture Exchange.
Teras issued 21,497,000 units at a price of $0.05 per unit for gross proceeds of $1,074,850. Each unit consists of one common share and one purchase warrant. Each warrant is exercisable for one common share at a price of $0.05 per share for a period of five years.
In addition, Teras issued 581,000 B warrants at a price of $0.05 for a period of two years and paid a finder’s fee of $30,810.00.
Proceeds will be used to repay an outstanding debt as well as for working capital.
Teras Resources is a junior mining exploration & development company. The company is focused on acquiring and exploring mineral property interests in Montana, Nevada, and Cahuilla in California. The company explores for gold, silver, and base metals.
Teras Resources Inc. is unchanged, trading at C$0.05 per share at 1:30 pm ET.