Terra Balcanica Closes First Tranche of Private Placement Financing
NOT FOR DISTRIBUTION TO THE U.S. NEWSWIRE OR FOR DISSEMINATION IN THE UNITED STATES
TERRA BALCANICA CLOSES FIRST TRANCHE OF PRIVATE PLACEMENT
FINANCING
Vancouver, British Colu mbia – December 15th, 2023 – Terra Balcanica Resources Corp.
(“Terra” or the “Company”) (CSE:TERA; FRA:UB1) is pleased to announce closing of the 1st
tranche of the non-brokered private placement financing (the “Offering”) of common shares (the
“Shares”).
The Company issued an aggregate of 4,105,000 Shares at a price of $0.0 4 per Share for gross
proceeds of $164,200 pursuant to the Offe ring announced on December 1st, 2023. The Private
Placement will be utilized for opportunities in the critical battery metal exploration space in the
Western Balkans.
Giulio Bonifacio, Chair of the board of directors (the “Insider”) purchased 815,000 Shares as part
of the Offering. The issuance of the Shares to the Insider constitutes a “related party transaction”
as this term is defined in Multilateral Instrument 61-101 – Protection of Minority Securityholders
in Special Transactions (“MI 61-101”). 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’s 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.
Pursuant to applicable Canadian securities laws, all securities issued and issuable in connection
with the closing of the Private Placement will be subject to a four (4) month hold period
ending April 16th, 2024.
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 “U.S. Securities Act”) 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 ap plicable state securities laws or an exemption from such registration is available.
“United States” and “U.S. Person” are as defined in Regulation S under the U.S. Securities Act.
About the Company
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.
ON BEHALF OF THE BOARD OF DIRECTORS
Terra Balcanica Resources Corp.
“Aleksandar Mišković”
Aleksandar Mišković
President and CEO
For further information, please contact Alex Mišković at [email protected], or
visit our website at www.terrabresources.com.
Cautionary Statement
This news release contains certain forward -looking information and forward-looking statements
within the meaning of applicable securities legislation (collectively “ forward-looking
statements”). The use of any of the words “will”, “intends” 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.