Teras Resources Inc. (TSXV:TRA) announced a non-brokered private placement of up to 10,000,000 units at CAD 0.05 per unit for gross proceeds of up to CAD 500,000 on January 23, 2020. Each unit consists of one common share and one common share purchase warrant. Each warrant is exercisable into one common share at a price of CAD 0.075 per share for a period of two year from the issuance of such warrant. The transaction is subject to approval of the TSX Venture Exchange. A finder's fee and or finder warrants may be paid on the gross proceeds of all or any portion of the private placement. The securities issued are subject to a hold period of four months and a day from the date of closing.