Terreno Announces Closing of $500,000 Private Placement Offering for Tantalum Exploration and Development

Executive Summary

• Terreno Resources Corp. completed a C$500,000 non‑brokered private placement of 10 million units at C$0.05 per unit.
• Each unit includes one common share and one warrant exercisable at C$0.07 for 12 months, with an acceleration clause tied to the share price.
• Proceeds will be used to advance exploration and development of the Metal 46 tantalum project in Bolivia and for general working capital.

Key Details

• Offering Size: C$500,000 total gross proceeds.
• Units Offered: 10 million units at C$0.05 per unit.
• Unit Composition: 1 common share (valued at C$0.05) + 1 share purchase warrant.
• Warrant Terms: Exercise price C$0.07; exercisable for 12 months from issue date.
• Acceleration Provision: If the VWAP of Terreno’s shares exceeds C$0.14 for ≥10 consecutive trading days, the company may accelerate warrant expiry to 30 calendar days after an acceleration notice.
• Use of Proceeds: Fund exploration and development of Metal 46 tantalum project in Bolivia; provide general working capital.
• Regulatory Approval: Received all required approvals from the TSX Venture Exchange.
• Finder’s Fees: C$300 cash plus 300 warrants paid to a third‑party finder per TSX Venture Exchange policies.
• Holding Period: Shares issued (including those issuable from finder’s warrants) subject to a hold period ending June 19 2026 (four months + one day after issue).
• U.S. Securities Disclaimer: Securities not registered under the U.S. Securities Act; cannot be offered or sold in the United States absent exemption.

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 & CEO

Materiality Assessment: Material – Positive (the financing provides substantial capital to advance a key project and supports corporate growth).