Terra Balcanica Closes First Tranche of Private Placement Financing
CSE: TERA | FRA: UB1 #250 – 200 Burrard Street, Vancouver, BC, Canada V6C 3L6
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 Columbia – June 17th, 2024 – Terra Balcanica Resources Corp. (“Terra” or
the “Company”) (CSE:TERA; FRA:UB1) is pleased to announce closing of the 1 st tranche of
the previously announced non- brokered private placement financing of units (the ” Units”) for
gross proceed of $205,750 (the “Offering”).
The Company issued an aggregate of 2,057,500 Units at a price of $0.10 per Unit pursuant to the
Offering announced on May 17th, 2024. Each Unit consists of one common share in the capital of
the Company (each a “ Common Share ”) and one Common Share purchase warrant (each a
“Warrant”). Each Warrant entitles the holder to purchase one Common Share at an exercise price
of $0.15 until June 17, 2027.
The Company intends to use the net proceeds of the Offering for working capital and to fund the
Phase III drilling campaign across its portfolio of properties.
Giulio Bonifacio, Non-Executive Chair and Kim Oishi, D irector of the Company ( together the
“Insiders”) purchased 257,500 Units as part of the Offering. The issuance of the Units to the
Insiders 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 Insiders 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 Offering are subject to a four (4) month hold period ending October 18,
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 applicable state securi ties l aws 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.
CSE: TERA | FRA: UB1 #250 – 200 Burrard Street, Vancouver, BC, Canada V6C 3L6
About the Company
Terra Balcanica is a polymetallic and energy metals exploration company targeting large -scale
mineral systems in the Balkans of southeastern Europe and norther n Saskatchewan, Canada. The
Company has 90% interest in the Viogor -Zanik Project in eastern Bosnia and Herzegovina and
owns 100% of the Ceovishte mineral exploration licence in southern Serbia. The Canadian assets
comprise a 100% optioned portfolio of uranium-prospective licences at the outskirts of 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 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 the complete information on this news release, please contact Aleksandar Mišković at
[email protected], +1 (514) 796-7577, or visit www.terrabresources.com/en/news.
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 exp ressions 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 stat ements. 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.