TNO.H:CC - TERRENO RESOURCES Closes $325500 Financing
(TheNewswire)
TORONTO, CANADA – TheNewswire - July 27, 2022 - Terreno Resources Corp. (TSXV:TNO.H) (“ Terreno ” or the “ Company ”) wishes toannounce that the Company has filed a revised Form C (Notice ofProposed Share Issuance/ Financing) for regulatory approval to close a$325,500 financing.
The total financing is for 6,510,000 units at $0.05.Each unit consists of one common share plus one full warrantexercisable at $0.06 for twelve months from the date of closing.Subject to regulatory approval, the Company intends to request anextension of the warrants for a second year exercisable at $0.07 and athird year exercisable at $0.08 as part of the application to graduatefrom the NEX board to the TSX Venture Exchange.
The first trancheconsisted of 4,910,000 common shares issued September 20, 2021 with alegend date of January 21, 2022 and 4,910,000 warrants exercisable at$0.06 for twelve months to September 20, 2022. The second tranche consisted of 1,600,000 common sharesissued November 5, 2021 with a legend date of March 6, 2022 and1,600,000 warrants exercisable at $0.06 for twelve months to November5, 2022. The numbers of shares and warrants above have been reducedfrom the numbers news released September 20, 2021 and November 5, 2021to reflect deducting the amounts from the CEO now reflected below asshares for debt.
The Company has also filed a Form C (Notice of ProposedShare Issuance/ Financing) for regulatory approval. This Form C is fora Shares for Debt for settlement of $45,000 of debt to the CEO withthe issue of 600,000 common shares on September 20, 2021 with a legenddate of January 21, 2022 and 300,000 common shares issued November 5,2021 with a legend date of March 6, 2022. The 600,000 warrants issuedSeptember 20, 2021 and the 300,000 warrants issued November 5, 2021have been cancelled as this is considered a non arms lengthtransaction.
Subsequent to the close of this financing and theshares for debt transactions, the Company has 58,971,506 common sharesissued and outstanding.
Additional information on the Company can be viewed at www.sedar.com
For additional information, contact: Tel: (905) 467-1109
Email: georgeabrown0955@gmail.com
Suite 1102, 44 Victoria Street,Toronto, Ontario M5C 1Y2
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