Terra Balcanica Closes Fully Subscribed LIFE Offering
NOT FOR DISSEMINATION IN THE UNITED STATES OR THROUGH U.S. NEWSWIRE SERVICES
Vancouver, British Columbia, Aug. 13, 2025 (GLOBE NEWSWIRE) -- Terra Balcanica Resources Corp. (“Terra” or the “Company”) (CSE:TERA; FRA:UB1) is pleased to announce the closing of the second and final tranche of its non-brokered, listed issuer financing exemption private placement (the “Private Placement” or “Offering”) for gross proceeds of C$302,581 through the issuance of 3,025,809 units (each a “Unit”) at a purchase price of C$0.10 per Unit. Each Unit is comprised of one common share in the capital of the Company (“Common Share”) and one-half of one Common Share purchase warrant (each whole warrant, a “Warrant”). Each Warrant is exercisable to purchase one Common Share (“Warrant Share”) at an exercise price of C$0.20 per Warrant Share for a period of 24 months from the closing date of the Private Placement or its respective tranches (the “Closing Date”). In connection with the final tranche of the Offering, finders’ fees in the amount of C$7,000 were paid and 70,000 non-transferable finder’s warrants (each, a “Finder’s Warrant”) were issued to arm’s length finders. Each Finder’s Warrant is exercisable for one Common Share at an exercise price of C$0.20 per Common Share for a period of 24 months from the Closing Date. The Company closed an initial tranche of the Offering on July 11, 2025 in the amount of 8,149,141 Units for gross proceeds of C$814,914, as described in the Company’s press release dated July 11, 2025. The Company has thus closed on the maximum offering amount of C$1,117,495.
Aleksandar Mišković, President and CEO of the Company commented: “We are very pleased to have raised the full allowable LIFE amount as interest for the offering kept growing by the week. The Phase III drill campaign at Viogor-Zanik in Bosnia is now fully funded and commences imminently. I am on the site to personally oversee the rig turning at Brezani while Terra’s team is excited for a robust news release stream to come in the days ahead.”
Kim Oishi, Director of the Company (the “Insider”), purchased 25,809 Units as part of the final tranche of the Offering. The issuance of the Units 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”). There has not been a material change in the percentage of the outstanding securities of the Company that are owned by the Insider as a result of his participation in the Offering. The Company is relying on the exemption from the valuation requirement and minority approval requirement pursuant to subsection 5.5(a) and 5.7(1)(a) of MI 61-101, respectively, as the fair market value of the Insider participation does 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 this transaction. No materially contrary view or abstention was expressed or made by any director of the Company in relation thereto.
The Private Placement was conducted pursuant to the listed issuer financing exemption under Part 5A of National Instrument 45-106 – Prospectus Exemptions. The securities issued to purchasers in the Private Placement are not subject to a hold period under applicable Canadian securities laws. The Finder’s Warrant issued to finders in connection with the final tranche of the Offering, and the Common Shares issuable on exercise thereof, are subject to a hold period expiring on December 14, 2025 in accordance with applicable Canadian securities laws.
This news release does not constitute an offer to sell, or a solicitation of an offer to buy, 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 U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.
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 northern Saskatchewan, Canada. The Company has a 90% interest in the Viogor-Zanik Project in eastern Bosnia and Herzegovina. The Canadian assets comprise a 100% optioned portfolio of uranium-prospective licences at the outskirts of the 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 amiskovic@terrabresources.com, +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 expressions are intended to identify forward-looking statements. Forward-looking statements contained in this press release include, but are not limited to, the use of proceeds for the Offering. 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, 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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