Terra Balcanica Resources Corp. announced a non-brokered private placement of 5,000,000 units at an issue price of CAD 0.10 per unit for gross proceeds of up to CAD 500,000 on November 14, 2022. Each unit consist of one common share and one common share purchase warrant.

Each warrant will entitle the holder to purchase an additional common share at an exercise price of CAD 0.15 per warrant share for a period of 36 months from the date of closing. The common shares will be offered by way of prospectus exemptions in Canada and the shares sold in the transaction will be subject to a hold period of four months plus one day. The closing date is expected to occur on or before December 2, 2022, subject to regulatory approvals, including the approval of the CSE and certain other customary conditions including, but not limited to, execution of agreements between the company and the subscribers.

In certain circumstances, the Company may pay finder's fee in cash on a portion of the transaction.