Teras Resources Inc. (TSXV:TRA) announced a non-brokered private placement of up to 17,500,000 units at a price of CAD 0.08 per unit for gross proceeds of CAD 1,400,000 on April 30, 2018. Each unit is consist of one common share and one common Share purchase warrant. Each warrant is exercisable into one common share at a price of CAD 0.15 per share for a period of two years from date of issuance. The transaction is subject to approval of the TSX Venture Exchange. The company may pay finder’s fees with respect to the transaction. All securities issued are subject to a hold period of four months and a day from the date of closing.