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03.01.2011
TERRA VENTURES ANNOUNCES CLOSING OF PRIVATE PLACEMENT OFFERING OF NON-FLOW-THROUGH UNITS AND FLOW-THROUGH SHARES
TERRA VENTURES ANNOUNCES CLOSING OF PRIVATE PLACEMENT OFFERING OF NON-FLOW-THROUGH UNITS AND FLOW-THROUGH SHARES
"Not for distribution to United States newswire services or for dissemination in
the United States."
December 30, 2010 NEWS RELEASE
TSX-V Symbol: TAS
Terra Ventures Inc. (TSX-V:TAS, “Terra” or the “Company”) is pleased to announce that it has closed its brokered private placement offering (the “Offering”) announced on December 1, 2010 with Salman Partners Inc. and Canaccord Genuity Corp. (the “Agents”), of 4,000,000 non-flowthrough units (the “Units”) at $0.50 per Unit and 3,333,300 flow-through shares at $0.60 per share, for aggregate gross proceeds to the Company of $3,999,980. Each Unit consists of one share of the Company and one-half of one transferable warrant (a “Warrant”). Each whole Warrant will entitle the holder to purchase one common share (a “Warrant Share”) at a price of $0.70 per Warrant Share for a period of 18 months expiring on June 30, 2012.
A cash commission has been paid to the Agents of $279,998.60 as well as 513,331 agent’s warrants exercisable to acquire units at a price of $0.50 per unit, the units being on the same terms as the aforementioned Units, for a period of 18 months expiring on June 30, 2012. All securities issued in connection with the Offering will be subject to a hold period expiring on May 1, 2011.
The gross proceeds from the sale of the flow-through shares will be used for Canadian Exploration Expenses related to the exploration of the Company’s Canadian exploration projects, and in particular the exploration of the Company’s C-4, C-5 and C-6 Projects in the Wheeler River area of the Athabasca Basin of Northern Saskatchewan. The Company will renounce such Canadian Exploration Expenses with an effective date of no later than December 31, 2010. The net proceeds from sale of the Units will be used for general working capital purposes.
About Terra:
Terra Ventures is a junior exploration company focused on acquiring and developing quality uranium projects which have world class potential. The Company is dedicated to building shareholder value by acquiring strategic uranium properties in this period of strengthening global demand for uranium supply. The Company's combination of strategic land positions, advanced stage projects and no risk carried projects – combined with technical expertise and management’s fundraising ability – are the foundation for growth in the uranium business.
For further particulars about Terra Ventures, please contact Ryan Johnson, Investor Relations, at 1-866-683-0911 or visit the Company’s website at www.terrauranium.com.
On behalf of the board of directors of
TERRA VENTURES INC.
“James Hutton”
James Hutton, Chairman
Neither the TSV Venture Exchange nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
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"Not for distribution to United States newswire services or for dissemination in
the United States."
December 30, 2010 NEWS RELEASE
TSX-V Symbol: TAS
Terra Ventures Inc. (TSX-V:TAS, “Terra” or the “Company”) is pleased to announce that it has closed its brokered private placement offering (the “Offering”) announced on December 1, 2010 with Salman Partners Inc. and Canaccord Genuity Corp. (the “Agents”), of 4,000,000 non-flowthrough units (the “Units”) at $0.50 per Unit and 3,333,300 flow-through shares at $0.60 per share, for aggregate gross proceeds to the Company of $3,999,980. Each Unit consists of one share of the Company and one-half of one transferable warrant (a “Warrant”). Each whole Warrant will entitle the holder to purchase one common share (a “Warrant Share”) at a price of $0.70 per Warrant Share for a period of 18 months expiring on June 30, 2012.
A cash commission has been paid to the Agents of $279,998.60 as well as 513,331 agent’s warrants exercisable to acquire units at a price of $0.50 per unit, the units being on the same terms as the aforementioned Units, for a period of 18 months expiring on June 30, 2012. All securities issued in connection with the Offering will be subject to a hold period expiring on May 1, 2011.
The gross proceeds from the sale of the flow-through shares will be used for Canadian Exploration Expenses related to the exploration of the Company’s Canadian exploration projects, and in particular the exploration of the Company’s C-4, C-5 and C-6 Projects in the Wheeler River area of the Athabasca Basin of Northern Saskatchewan. The Company will renounce such Canadian Exploration Expenses with an effective date of no later than December 31, 2010. The net proceeds from sale of the Units will be used for general working capital purposes.
About Terra:
Terra Ventures is a junior exploration company focused on acquiring and developing quality uranium projects which have world class potential. The Company is dedicated to building shareholder value by acquiring strategic uranium properties in this period of strengthening global demand for uranium supply. The Company's combination of strategic land positions, advanced stage projects and no risk carried projects – combined with technical expertise and management’s fundraising ability – are the foundation for growth in the uranium business.
For further particulars about Terra Ventures, please contact Ryan Johnson, Investor Relations, at 1-866-683-0911 or visit the Company’s website at www.terrauranium.com.
On behalf of the board of directors of
TERRA VENTURES INC.
“James Hutton”
James Hutton, Chairman
Neither the TSV Venture Exchange nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
NEWSLETTER REGISTRIERUNG:
Aktuelle Pressemeldungen dieses Unternehmens direkt in Ihr Postfach:
<a href="http://www.irw-press.com/alert_subscription.php?lang=en&isin=CA88102A1093">http://www.irw-press.com/alert_subscription.php?lang=en&isin=CA88102A1093</a>
Mitteilung übermittelt durch IRW-Press.com. Für den Inhalt ist der Aussender
verantwortlich.
Kostenloser Abdruck mit Quellenangabe erlaubt.