- Terra Balcanica Resources (TERA) has announced the intent to complete a non-brokered private placement
- The company plans to raise up to C$500,000 through the issuance of 5,000,000 units at a purchase price of $0.10 per unit
- Proceeds from the private placement will provide Terra with the necessary capital to continue to advance its ongoing exploration activities in the Balkans
- Terra Balcanica is a polymetallic exploration company targeting large-scale mineral systems in the Balkans of southeastern Europe
- Terra Balcanica Resources Corp. (TERA) opened trading at $0.09 per share
Terra Balcanica (TERA) has announced the intent to complete a non-brokered private placement.
The company plans to raise up to C$500,000 through the issuance of 5,000,000 units at a purchase price of $0.10 per unit.
Each unit will be made up of one common share and one common share purchase warrant.
Each warrant entitles the holder to purchase an additional common share for $0.15 per warrant share for a period of 36 months from the closing date.
The common shares will be offered by way of prospectus exemptions in Canada and the common shares sold in the private placement will be subject to a hold period of four months plus one day.
The closing date is expected to occur on or before December 2, 2022, subject to regulatory approvals.
Proceeds from the private placement will provide Terra with the necessary capital to continue to advance ongoing exploration activities in the Balkans.
Terra Balcanica is a polymetallic exploration company targeting large-scale mineral systems in the Balkans of southeastern Europe.
The company has a 90-per-cent interest in the Viogor-Zanik Project in eastern Bosnia and Herzegovina, and 100 per cent of the Kaludra and Ceovishte mineral exploration licences in Serbia.
Terra Balcanica Resources Corp. (TERA) opened trading at $0.09 per share.
