Terra Balcanica Closes Oversubscribed Private Placement Financing
Terra Balcanica Resources Corp. (CSE:TERA) (FRA:UB1) (OTCQB:TEBAF) is pleased to announce closing of the non-brokered private placement financing of units for gross proceeds of $439,370.41 Canadian.
The Company issued 8,787,408 Units at a price of C$0.05 per Unit pursuant to the Offering announced on March 23rd, 2026. Each Unit consists of one common share in the capital of the Company and one Common Share purchase warrant. Each Warrant issued in the Offering entitles the holder to purchase one Common Share at an exercise price of C$0.10 until April 14th, 2028. Finders’ fees in the amount of C$12,950 were paid to arm’s length finders that located purchasers for the Offering. Additionally, 259,000 finders’ warrants were issued. The Company intends to use the proceeds of the Offering for land holding costs, to renew the mineral exploration properties in Bosnia and Herzegovina and for general working capital purposes.
Pursuant to applicable Canadian securities laws and the policies of the Canadian Securities Exchange, all securities issued and issuable in connection with the closing of the Offering are subject to a four (4) month hold period ending August 15th, 2026. The Offering is subject to the policies and approval of the Exchange.
Dr. Aleksandar Mišković, Director and CEO of the Company, purchased 300,000 Units as part 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. 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.
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 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 silver and antimony-focused 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. Terra owns significant stake in Terra North Resources Corp. and its Canadian assets that comprise a 100% optioned portfolio of uranium-prospective claims surrounding the world-renowned Athabasca basin. 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.
