Terra Balcanica gives more time for private placement
Terra Balcanica Resources Corp. has extended the timeline for its private placement offering. The company is still offering up to 15 million units at a price of C$0.05 per unit, which could bring in a total of C$750,000 in gross proceeds. Investors now have until September 8, 2026, to participate in the fundraising.
Each unit offered consists of one common share and a warrant. The warrant gives investors the right to purchase an additional common share at a price of C$0.10 for a period of 24 months after the closing. This extension follows the initial announcement made on June 24, 2026, when the company first outlined its funding plans.
How the funds will be used
The capital raised through the private placement will be directed toward several strategic initiatives. A key use is funding the costs associated with listing on the UK stock exchange. Additionally, the company plans to deploy the funds toward conducting a ground geophysical survey at the Cumavici target area.
A portion of the proceeds will also be allocated to initiate the Phase IV drilling program at Cumavici, which is part of the Viogor project in Bosnia and Herzegovina. This drilling initiative is a significant step in the company’s exploration efforts to assess the full potential of the project.
The private placement is being offered under exemptions from both Canadian and U.S. securities laws. If the shares are issued within four months of the private placement’s closing, they will carry a hold period of four months and one day. This restriction is in line with Canadian securities laws and the policies of the Canadian Securities Exchange, if applicable.
Terra North share issuance and financial advisor
Terra North Resources Corp., a private company spun off from Terra Balcanica and in which Terra owns a 46.3% stake, has issued 5.6 million shares to Fulcrum Canada. This issuance is tied to the 2nd anniversary payment of an existing option agreement. The shares will be subject to a 12-month voluntary hold period once Terra North goes public.
As part of the same anniversary agreement, Fulcrum Canada is also set to receive a cash payment. The payment will be made by October 31, 2026, or within 13 trading days of Terra North completing a public listing, whichever occurs first. If Terra North successfully goes public before the original deadlines in the agreement, the remaining terms will be adjusted accordingly.
In a related update, Terra Balcanica has concluded its engagement with DGWA GmbH. The firm had previously served as the company’s financial markets advisor beginning on June 25, 2026. The decision to end the partnership was not explained in the news release.
The company emphasized that this news release is not an offer to sell or a solicitation to buy any securities in the United States. The offering is not registered under the U.S. Securities Act or applicable state securities laws, and no sales to U.S. persons or in the U.S. can be made without registration or an available exemption.
About Terra Balcanica
Terra Balcanica Resources Corp. is a mineral exploration company focused on polymetallic projects in the Balkans region of southeastern Europe. The company holds a 100% interest in the Viogor Project in eastern Bosnia and Herzegovina, a key area in its exploration strategy.
In addition to its direct projects, Terra owns a 46.3% stake in Terra North Resources Corp. and maintains an interest in its associated Canadian assets through this subsidiary. Terra North is also working with Fulcrum Canada under an amending agreement that alters the terms of an earlier option agreement.
The company continues to develop its exploration projects, leveraging private placements and partnerships to fund further drilling and resource assessments. As it pursues its growth and listing objectives, Terra Balcanica remains committed to advancing its positions in the Balkans and supporting its corporate subsidiaries.