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Terra Energy closes first tranche of private placement of units


Published Mar 3, 2014
Terra Energy Corp.

Terra Energy Corp. has closed the first tranche of its the recently announced non-brokered private placement offering (the "Offering") pursuant to the issuance of: (i) 1,755,000 units of the Company (Units) at a price of $0.40 per Unit; and (ii) 2,000,000 common shares of the Company to be issued on a "flow-through" basis ("Flow-Through Shares") at a price of $0.40 per Flow-Through Share, resulting in aggregate gross proceeds of $1,502,000.

Each Unit consists of one common share of the Company ("Common Share") and one Common Share purchase warrant of the Company (Warrant). Each Warrant is exercisable into one Common Share at a price of $0.50 per Common Share on or before June 30, 2015.

Tags: Terra Energy Corp.




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