Terra Balcanica Resources Corp. announced a non-brokered private placement of 11,764,706 units at a purchase price of CAD 0.085 per Unit for the gross proceeds of up to CAD 1,000,000 on April 4, 2023. Each Unit will be comprised of one common share and one Common Share purchase warrant to purchase an additional one common share of the Company at an exercise price of CAD 0.13 per Warrant Share for a period of 36 months from the closing date of the Private Placement.

The transaction is subject to approval from CSE and regulatory approvals. The securities are being subject to four months hold period. The transaction is expected to close on May 16, 2023.

The Company may pay finder?s fee in cash on a portion of the Private Placement.