The Common Shares will be offered by way of prospectus exemptions in Canada and the Common Shares sold in the Private Placement will be subject to a hold period of four months plus one day. The Closing Date is expected to occur on or before December 2nd, 2022, subject to regulatory approvals, including the approval of the CSE and certain other customary conditions including, but not limited to, execution of subscription agreements between the Company and the subscribers. In certain circumstances, the Company may pay finder’s fee in cash on a portion of the Private Placement.
The Private Placement will provide Terra with the necessary capital to continue to advance the Company’s ongoing exploration activities in the Balkans.
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 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.
President and CEO