Terrace Inc. announced a non-brokered private placement of minimum of 120,000,000 subscription receipts and maximum of 160,000,000 subscription receipts at a price of CAD 0.125 per receipt for minimum gross proceeds of CAD 15,000,000 on July 17, 2020. Each subscription receipt will be exchanged into one common share of the company for no additional consideration. The company may pay finders’ fees in cash or securities or a combination of both, as permitted by the policies of the TSX Venture Exchange. All securities to be issued will be subject to a four month hold period. The transaction is subject to the approval of TSX Venture Exchange and regulatory approvals, and is expected to close on or about July 30, 2020.