Terra Balcanica Appoints Business Development Officer, Grants Stock Options, and Agrees to Settle Debt for Shares
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Vancouver, British Columbia, March 12, 2025 (GLOBE NEWSWIRE) -- Terra Balcanica Resources Corp. (“Terra” or the “Company”) (CSE:TERA; FRA:UB10) announces the appointment of Mathieu Couillard as its Business Development Officer.
Mr. Couillard brings a strong background in capital markets and business strategy to his role at Terra. He is an experienced Board Member and financial consultant with expertise in advising management and board of directors on capital market strategies. During his career, Mr. Couillard served as Managing Director of investment banking at Haywood Securities in Toronto, leading the Special Situations team from 2016 to 2022. Mathieu is an experienced investment banker with extensive expertise in capital markets. He participated in over C$1 Billion in capital raises for private and public companies and is the architect of numerous mergers and acquisitions. Prior to joining Haywood Securities, Mr. Couillard was part of the Risk Management Solutions group specializing in the sales and structuring of derivative products at National Bank of Canada in Toronto. From 2006 to 2014, Mr. Couillard was part of National Bank’s investment banking group in Montreal. Mathieu is a Fellow of the Society of Actuaries and currently sits of on the board of directors of another TSX Venture listed company. Mr. Couillard has been the President and CEO of SPOD Lithium Corp. since April, 2024.
In consideration of his business development efforts, the Company will grant Mr. Couillard options and other compensation at a future date as appropriate, at the discretion of the Board of Directors.
Option Grant
The Company announces the grant of 600,000 incentive stock options (the “Options”) to certain marketing advisors and consultants in accordance with the Company’s stock option plan (the “Option Plan”). The Options are exercisable for C$0.105 per common share for a period of 2 years from the date of issuance.
Shares for Debt
The Company has further agreed to settle outstanding debt in the amount of CDN$15,000 (the “Debt”) owing to an arm’s length creditor by issuing an aggregate of 166,666 common shares in the capital of the Company (the “Common Shares”) at a price of C$0.09 per Common Share (the “Shares for Debt Transaction”). The Board of Directors has determined it is in the best interests of the Company to settle the outstanding Debt by the issuance of the Common Shares in order to preserve the Company’s cash for ongoing operations.
Closing of the Shares for Debt Transaction is subject to customary closing conditions, and the Company intends to close as soon as practicable. The Common Shares to be issued pursuant to the Shares for Debt Transaction will be subject to a hold period of four (4) months and one (1) day from the date of issuance in accordance with applicable securities laws.
About the Company
Terra Balcanica is a polymetallic and energy metals exploration company targeting large-scale mineral systems in the Balkans and northern Saskatchewan, Canada. The Company has 90% interest in the polymetallic (Sb-Ag-Zn-Pb-Au) Viogor-Zanik Project in eastern Bosnia and Herzegovina. The Canadian assets comprise a 100% optioned portfolio of uranium licences along the world-renowned Athabasca basin in northern Saskatchewan: 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 amiskovic@terrabresources.com, +1 (514) 796-7577 or visit https://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 expressions are intended to identify forward-looking statements. The forward-looking statements contained in this press release include, but are not limited to, the completion of the Shares for Debt Transaction. 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. These forward-looking statements are based on a number of assumptions which may prove to be incorrect including, but not limited to, the ability to obtain regulatory approval for the Shares for Debt Transaction; volatility and sensitivity to market prices; volatility and sensitivity to capital market fluctuations; and fluctuations in metal prices. 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.
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