Terreno closes $500,000 private placement

Executive Summary

• Terreno Resources Corp. has closed a non-brokered private placement raising $500,000 for the exploration and development of its Metal 46 tantalum project in Bolivia and for general working capital.
• The offering consisted of 10 million units priced at $0.05 per unit, with each unit comprising one common share and one share purchase warrant.
• Warrants are exercisable at $0.07 for 12 months, subject to an acceleration clause if the share price exceeds $0.14 for 10 consecutive trading days.

Key Details

• Gross Proceeds: $500,000
• Units Offered: 10,000,000 units
• Price Per Unit: $0.05
• Unit Composition: Each unit consists of one common share and one share purchase warrant.
• Share Price: $0.05 per common share.
• Warrant Terms:
  • Exercise Price: $0.07 per share.
  • Duration: 12 months from the issue date.
  • Acceleration Provision: If the volume-weighted average price of common shares exceeds $0.14 for at least 10 consecutive trading days, the company may accelerate the warrant expiry to 30 calendar days following the notice date.
• Use of Proceeds: Exploration and development of the Metal 46 tantalum project in Bolivia and general working capital.
• Regulatory Status: Received all necessary regulatory approvals, including from the TSX Venture Exchange.
• Finders' Fees: $300 in cash and 300 warrants paid to a third party.
• Hold Period: Common shares issued and shares issuable from finders' warrants are subject to a hold period ending on June 19, 2026 (four months plus one day following the issue date).

Notable Quotes

• "I would like to thank the many participants in this offering, which should allow us to make significant progress in the coming months. Favourable geopolitical changes in Bolivia specifically and positive supply and demand dynamics for critical mineral tantalum are starting to draw attention to our activities." — Richard Williams, President and CEO