Terreno Resources Announces up to C$1,000,000 Financing
TORONTO, CANADA – TheNewswire - July 26, 2021 - Terreno Resources Corp. (TSXV:TNO.H) (“Terreno” or the “Company”) is pleased to announce that it has launched a C$1,000,000 financing on the Stockhouse Dealroom at the link below:
The financing is for up to 20,000,000 units at $0.05. Each unit consists of one common share plus one full warrant exercisable at $0.06 for twelve months from date of closing. Subject to regulatory approval, the Company also intends to request an extension of the warrants for a second year at $0.07 and a third year at $0.08 as a part of the graduation application. The Company currently has 51,561,506 common shares issued and outstanding. There are also 9,126,000 warrants exercisable at $0.07 of which 8,326,000 expire on September 1, 2021 and the remaining 800,000 expire on March 18, 2022.
The Company is currently preparing a diamond drilling plan for the Las Cucharas Gold and Silver Project in Nayarit, Mexico which it intends to commence this fall, subject to financing.
The Company intends to do a first closing as soon as it has C$350,000 of working capital to support our application to graduate to the TSX-V.
Mr. Brown, President & CEO states: “It is the most exciting time of a project’s exploration life when it has been deemed to be ready for the true test that only diamond drilling is able to deliver.”
Interested parties may contact George A. Brown, President & CEO by email at firstname.lastname@example.org or by phone at (905) 467-1109
Additional information on the Company can be viewed at www.sedar.com
For additional information, contact: Tel: (905) 467-1109
Suite 1102, 44 Victoria Street, Toronto, Ontario M5C 1Y2
Neither The TSX Venture Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.
This news release does not constitute an offer to sell or a solicitation of an offer to buy any of Terreno’s securities in the United States. None of the securities have been and will not be registered under the United States Securities Act of 1933, as amended (the “1933 Act”), or any state securities laws and may not be offered or sold within the United States or to U.S. persons unless registered under the 1933 Act and applicable state securities laws, or an exemption from such registration is available. Any public offering of securities in the United States must be made by means of a prospectus that contains detailed information about Terreno and its management, as well as financial statements.
This release may contain certain “forward looking statements” and certain “forward-looking information” as defined under applicable Canadian and U.S. securities laws. Forward-looking statements and information can generally be identified by the use of forward-looking terminology such as “may”, “will”, “expect”, “intend”, “estimate”, “anticipate”, “believe”, “continue”, “plans” or similar terminology. Forward-looking statements and information include, but are not limited to, statements with respect to the transactions contemplated, any requisite regulatory approvals in respect thereof and proposed future transactions Tereno may undertake and their expected timing. Forward-looking statements and information are based on forecasts of future results, estimates of amounts not yet determinable and assumptions that, while believed by management to be reasonable, are inherently subject to significant business, economic and competitive uncertainties and contingencies. Forward-looking statements and information are subject to various known and unknown risks and uncertainties, many of which are beyond the ability of Terreno to control or predict. Terreno undertakes no obligation to update forward-looking information except as required by applicable law. Such forward-looking information represents management's best judgment based on information currently available. No forward-looking statement can be guaranteed and actual future results may vary materially. Accordingly readers are advised not to place undue reliance on forward-looking statements.