Terreno arranges $500,000 private placement

Executive Summary

• Terreno Resources Corp. has arranged a non-brokered private placement for gross proceeds of up to C$500,000.
• The offering consists of 10 million units priced at C$0.05 per unit, with proceeds designated for the exploration and development of the Metal 46 tantalum project in Bolivia and general working capital.
• Each unit includes one common share and a warrant to purchase one additional common share, with specific acceleration provisions and hold periods attached.

Key Details

• Gross Proceeds: Up to C$500,000.
• Structure: Non-brokered private placement of units.
• Unit Composition: Each unit consists of one common share and one share purchase warrant.
• Offering Price: C$0.05 per unit.
• Total Units: 10 million units.
• Warrant Terms:
  • Each common share entitles the holder to purchase one additional common share.
  • Exercise Price: C$0.07 per share.
  • Duration: 12 months following the issue date.
  • Acceleration Provision: If the volume-weighted average price of common shares exceeds C$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 Conditions: Closing is subject to receipt of necessary regulatory approvals, including those from the TSX Venture Exchange.
• Hold Period: Common shares issued and those issuable from finders' warrants are subject to a hold period ending four months and one day following the issue date.
• Fees: Finders' fees, commissions, or share purchase warrants will be payable in accordance with market conditions and TSX Venture Exchange policies.