Teras Resources Inc. (TSXV:TRA) announced a non-brokered private placement of 10,909,090 units at CAD 0.055 per unit for gross proceeds of CAD 600,000 on July 27, 2018. Each unit consists of one common share and one common share purchase warrant. Each warrant entitles the holder to purchase one additional common share at a price of CAD 0.075 per share for a period of 12 months from the date of closing. The company may pay finder's fees in the transaction. The securities issued are subject to a hold period of four months plus one day from the date of closing. The transaction is subject to TSX Venture Exchange approval.