Terra Balcanica Resources Corp. announced a non-brokered private placement of up to 6,000,000 units at a purchase price of CAD 0.10 per unit for gross proceeds of up to CAD 600,000 on May 17, 2024. Each unit will be comprised of one common share in the capital of the company and a common share purchase warrant to purchase an additional one common share of the company at an exercise price of CAD 0.15 per Warrant Share for a period of 36 months from the closing date of the Private Placement.

The Common Shares, Warrants and Warrant Shares, if issued within four months of the Closing Date, will be subject to a hold period of four months plus one day from the Closing Date in accordance with applicable Canadian securities laws. The Closing Date is expected to occur on or before June 14, 2024, subject to regulatory approvals, including the approval of the Canadian Securities Exchange and certain other customary conditions. In certain circumstances, the company may pay finder?s fees in cash and warrants on a portion of the Private Placement.