Terra Balcanica Closes Fourth Tranche of Private Placement Financing
NOT FOR DISTRIBUTION TO THE U.S. NEWSWIRE OR FOR DISSEMINATION IN THE UNITED STATES
TERRA BALCANICA CLOSES FOURTH TRANCHE OF PRIVATE PLACEMENT
FINANCING
Vancouver, British Columbia – August 1st, 2023 – Terra Balcanica Resources Corp. (“Terra ”
or the “Company”) (CSE:TERA; FRA:UB1) is pleased to announce closing of the 4th tranche of
the non- brokered private placement financing (the “ Offering”) of units (the ” Units”) as it
continues drilling the Brezani porphyry target in eastern Bosnia and Herzegovina.
Fourth Tranche Private Placement Financing Closed
The Company issued an aggregate of 2,866,229 Units at a price of $0.085 per Unit for gross
proceeds of $243,630 pursuant to the Offering announced on April 4th, 2023. Each Unit consists
of one common share in the capital of the Company (each, a “Common Share”) and one Common
Share purchase warrant (each whole warrant, a “ Warrant”). Each Warrant entitles the holder to
purchase one Common Share at an exercise price of $0.13 until July 31 st, 2026. Finders’ fees in
the amount of $13,484 were paid.
Inclusive of the fourth tranche the Company has issued 12,141,497 units at a price of $0.085 for
gross proceeds of $1,032,028 to date while continuing to raise funds into August of 2023. Terra
intends to use the net proceeds of the Offering for working capital and to f inance the Phase II
drilling across its portfolio of properties in Bosnia and Serbia.
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 December 1st, 2023.
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 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.