Terra Balcanica Announces Closing of $500,000 Financing

NOT FOR DISTRIBUTION TO THE U.S. NEWSWIRE OR FOR DISSEMINATION IN THE UNITED STATES

Vancouver, British Columbia, Dec. 15, 2022 (GLOBE NEWSWIRE) —

Terra Balcanica Assets Corp. (“Terra” or the “Firm”) (CSE:TERA) is happy to announce that it has closed its beforehand introduced non-brokered non-public placement financing of models (the ”Items”) for gross proceed of $500,000 (the “Providing”).

The Firm issued an combination of 5,000,000 Items at a worth of $0.10 per Unit pursuant to the Providing. Every Unit consists of 1 widespread share within the capital of the Firm (every, a “Frequent Share“) and one Frequent Share buy warrant (every complete warrant, a “Warrant“). Every Warrant entitles the holder to buy one Frequent Share at an train worth of $0.15 till December 15^th, 2025.

Terra’s CEO, Alex Miskovic, commented: “We’re happy to finish this financing previous to yr’s finish which can permit the Firm to enter 2023 in a a lot stronger monetary place. Though the worldwide financing markets have been very difficult, the successful financing is a testomony to our inside supporters and rising Terra Balcanica model. We appreciate the continued assist of our current shareholders and are more than happy to have added new names to our registry.”

The Firm intends to make use of the online proceeds of the Providing for working capital and basic company functions. Finders charges within the quantity of $17,689 have been paid.

Dr. Aleksandar Miskovic, the CEO and a director, Guilio Bonifacio, Chair of the board of administrators, Steven Latimer, a director, and Brandon Bonifacio, a director (the “Insiders”) bought 1,023,000 Items as a part of the Providing.  The issuance of the Items to the Insiders constitutes a “associated get together transaction” as this time period is outlined in Multilateral Instrument 61-101 – Safety of Minority Securityholders in Particular Transactions (“MI 61-101”). The Firm is counting on the exemption from valuation requirement and minority approval pursuant to subsection 5.5(a) and 5.7(a) of MI 61-101, respectively, because the securities don’t signify greater than 25% of the Firm’s market capitalization, as decided in accordance with MI 61-101. The participation by Insiders within the Providing was permitted by administrators of the Firm who’re impartial in reference to such transaction.

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Pursuant to relevant Canadian securities legal guidelines, all securities issued and issuable in reference to the closing of the Non-public Placement shall be topic to a 4 (4) month maintain interval ending April 16, 2023.

This information launch doesn’t represent a suggestion to promote or a solicitation of a suggestion to promote any of the securities in the US. The securities haven’t been and won’t be registered beneath the US Securities Act of 1933, as amended (the “U.S. Securities Act”) or any state securities legal guidelines, and might not be supplied or offered inside the US, or to or for the account or advantage of any U.S. individual or any individual in the US, except registered beneath the U.S. Securities Act and relevant state securities legal guidelines or an exemption from such registration is offered. “United States” and “U.S. Individual” are as outlined in Regulation S beneath the U.S. Securities Act.

Concerning the Firm
Terra Balcanica is a polymetallic exploration firm concentrating on large-scale mineral programs within the Balkans of southeastern Europe. The Firm has 90% curiosity within the Viogor-Zanik Venture in japanese Bosnia and Herzegovina, 100% of the Kaludra and Ceovishte mineral exploration licences in southern Serbia. The Firm emphasizes accountable engagement with native communities and stakeholders. It’s dedicated to proactively implementing Good Worldwide Trade Follow (GIIP) and sustainable well being, security, and environmental administration.

ON BEHALF OF THE BOARD OF DIRECTORS

Terra Balcanica Assets Corp.
“Aleksandar Mišković”

Aleksandar Mišković
President and CEO

For additional info, please contact Alex Mišković at amiskovic@terrabresources.com, or go to our web site at www.terrabresources.com.

Cautionary Assertion

This information launch incorporates sure forward-looking info and forward-looking statements throughout the which means of relevant securities laws (collectively “forward-looking statements”). Using any of the phrases “will”, “intends” and related expressions are meant to establish forward-looking statements. Ahead wanting info contained on this information launch contains the anticipated use of proceeds of the Providing, and the anticipated timing associated to releasing drill outcomes from the 2022 Viogor-Zanik marketing campaign. These statements contain recognized and unknown dangers, uncertainties and different elements that will trigger precise outcomes or occasions to vary materially from these anticipated in such forward-looking statements. Such forward-looking statements should not be unduly relied upon. Precise outcomes achieved could fluctuate from the knowledge supplied herein on account of quite a few recognized and unknown dangers and uncertainties and different elements. The Firm believes the expectations mirrored in these forward-looking statements are cheap, however no assurance might be on condition that these expectations will show to be right. The Firm doesn’t undertake to replace these forward-looking statements, besides as required by legislation.