Terreno Announces Private Placement Offering Of Up To C$500,000 For Tantalum Exploration And Development

Executive Summary

• Terreno Resources Corp. announced a non‑brokered private placement of up to 10 million units for gross proceeds of C$500,000.
• Each unit consists of one Common Share (C$0.05) and one Share Purchase Warrant (C$0.07), with an acceleration clause tied to the share price exceeding C$0.14 for ten consecutive trading days.
• Proceeds will be used to fund exploration and development of the Metal 46 tantalum project in Bolivia and for general working capital.

Key Details

• Offering Size: Up to 10 million units; total gross proceeds up to C$500,000.
• Pricing: Units priced at C$0.05 per unit (C$0.05 per Common Share + C$0.07 per Warrant).
• Unit Composition: 1 Common Share + 1 Share Purchase Warrant per unit.
• Warrant Terms: Warrants exercisable at C$0.07 for 12 months from issue; acceleration right triggers if TSX‑V share price > C$0.14 for ≥10 consecutive trading days, allowing the company to give a notice that shortens expiry to 30 calendar days after such notice.
• Use of Proceeds: Exploration and development of Metal 46 tantalum project in Bolivia; general working capital.
• Closing Conditions: Subject to regulatory approvals (TSX Venture Exchange) and receipt of all required consents.
• Finder’s Fees/Commissions: Payable per market conditions and TSX‑V policies.
• Holding Period: Shares issued are subject to a lock‑up ending four months plus one day after the issue date, in accordance with securities law.
• U.S. Offering Restrictions: Securities not registered under U.S. securities laws; cannot be offered or sold in the United States absent exemption.

Notable Quotes

(No direct quotes were provided in the release.)