{"id":36128,"date":"2023-12-16T10:40:07","date_gmt":"2023-12-16T10:40:07","guid":{"rendered":"https:\/\/news.pakistaninewspaperlist.com\/terra-balcanica-closes-first-tranche-of-private-placement-financing\/"},"modified":"2023-12-16T10:40:07","modified_gmt":"2023-12-16T10:40:07","slug":"terra-balcanica-closes-first-tranche-of-private-placement-financing","status":"publish","type":"post","link":"https:\/\/pakistaninewspaperlist.com\/news\/terra-balcanica-closes-first-tranche-of-private-placement-financing\/","title":{"rendered":"Terra Balcanica Closes First Tranche Of Private Placement Financing"},"content":{"rendered":"
\n

NOT FOR DISTRIBUTION TO THE U.S. NEWSWIRE OR FOR DISSEMINATION IN THE UNITED STATES<\/p>\n

Vancouver, British Columbia, Dec. 15, 2023 (GLOBE NEWSWIRE) — <\/p>\n

Terra Balcanica Resources Corp. (\u201cTerra<\/strong>\u201d or the \u201cCompany<\/strong>\u201d) (CSE:TERA; FRA:UB1<\/strong>) is pleased to announce closing of the 1st<\/sup> tranche of the non-brokered private placement financing (the \u201cOffering<\/strong>\u201d) of common shares (the \u201cShares<\/strong>\u201d).<\/p>\n

The Company issued an aggregate of 4,105,000 Shares at a price of $0.04 per Share for gross proceeds of $164,200 pursuant to the Offering announced on December 1st<\/sup>, 2023. The Private Placement will be utilized for opportunities in the critical battery metal exploration space in the Western Balkans.<\/p>\n

Giulio Bonifacio, Chair of the board of directors (the\u00a0\u201cInsider\u201d<\/strong>) purchased 815,000 Shares as part of the Offering. The issuance of the Shares to the Insider constitutes a \u201crelated party transaction\u201d as this term is defined in Multilateral Instrument 61-101 \u2013 Protection of Minority Securityholders in Special Transactions (\u201cMI 61-101\u201d<\/strong>). The Company is relying on the exemption from valuation requirement and minority approval pursuant to subsection 5.5(a) and 5.7(a) of MI 61-101, respectively, as the securities do not represent more than 25% of the Company\u2019s market capitalization, as determined in accordance with MI 61-101. The participation by the Insider in the Offering was approved by directors of the Company who are independent in connection with such transactions.<\/p>\n

Pursuant to applicable Canadian securities laws, all securities issued and issuable in connection with the closing of the Private Placement\u00a0will be\u00a0subject to a four (4) month hold period ending\u00a0April 16th<\/sup>, 2024.<\/p>\n

This news release does not constitute an offer to sell or a solicitation of an offer to sell any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the \u201cU.S. Securities Act<\/strong>\u201d) or any state securities laws, and may not be offered or sold within the United States, or to or for the account or benefit of any U.S. person or any person in the United States, unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available. \u201cUnited States<\/strong>\u201d and \u201cU.S. Person<\/strong>\u201d are as defined in Regulation S under the U.S. Securities Act.<\/p>\n

About the Company<\/strong>
Terra Balcanica is a polymetallic exploration company targeting large-scale mineral systems in the Balkans of southeastern Europe. The Company has 90% interest in the Viogor-Zanik Project in eastern Bosnia and Herzegovina, 100% of the Kaludra and Ceovishte mineral exploration licences in southern Serbia. The Company emphasizes responsible engagement with local communities and stakeholders. It is committed to proactively implementing Good International Industry Practice (GIIP) and sustainable health, safety, and environmental management.<\/p>\n

ON BEHALF OF THE BOARD OF DIRECTORS<\/strong><\/p>\n

Terra Balcanica Resources Corp.<\/strong>
\u201cAleksandar Mi\u0161kovi\u0107\u201d <\/em><\/strong><\/p>\n

Aleksandar Mi\u0161kovi\u0107<\/strong>
President and CEO<\/strong>
For further information, please contact Alex Mi\u0161kovi\u0107 at amiskovic@terrabresources.com<\/a>, or visit our website at www.terrabresources.com<\/a>.<\/p>\n

Cautionary Statement<\/em><\/strong><\/p>\n

This news release contains certain forward-looking information and forward-looking statements within the meaning of applicable securities legislation (collectively \u201cforward-looking statements\u201d). The use of any of the words \u201cwill\u201d, \u201cintends\u201d and similar expressions are intended to identify forward-looking statements. These statements involve known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking statements. Such forward-looking statements should not be unduly relied upon. Actual results achieved may vary from the information provided herein as a result of numerous known and unknown risks and uncertainties and other factors. The Company believes the expectations reflected in those forward-looking statements are reasonable, but no assurance can be given that these expectations will prove to be correct. The Company does not undertake to update these forward-looking statements, except as required by law.<\/em><\/p>\n

\n <\/div>\n","protected":false},"excerpt":{"rendered":"

NOT FOR DISTRIBUTION TO THE U.S. NEWSWIRE OR FOR DISSEMINATION IN THE UNITED STATES Vancouver, British Columbia, Dec. 15, 2023 (GLOBE NEWSWIRE) — Terra Balcanica Resources Corp. (\u201cTerra\u201d or the \u201cCompany\u201d) (CSE:TERA; FRA:UB1) is pleased to announce closing of the 1st tranche of the non-brokered private placement financing (the \u201cOffering\u201d) of common shares (the \u201cShares\u201d). […]<\/p>\n","protected":false},"author":2,"featured_media":36129,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"default","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","ast-disable-related-posts":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"fifu_image_url":"https:\/\/ml.globenewswire.com\/Resource\/Download\/9fef755e-cce1-4d51-9758-0d70b04a75ce","fifu_image_alt":"","footnotes":""},"categories":[208],"tags":[],"class_list":["post-36128","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-globenewswire"],"acf":[],"aioseo_notices":[],"aioseo_head":"\n\t\t\n\t\n\t\n\t\n\t\n\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t