Business
Terra Balcanica Resources Closes Option Agreement for Saskatchewan Uranium Assets
Vancouver, British Columbia, July 24, 2024 (GLOBE NEWSWIRE) -- Terra Balcanica Resources Corp. (“Terra” or the “Company”) (CSE:TERA; FRA:UB1), a multi-jurisdict
About this update from Terra Balcanica Resources Corp.
[{"type":"text","content":" Vancouver, British Columbia, July 24, 2024 (GLOBE NEWSWIRE) -- Terra Balcanica Resources Corp. (“Terra” or the “Company”) (CSE:TERA; FRA:UB1), a multi-jurisdictional, polymetallic exploration company focused on supporting the global transition to clean energy, is pleased to announce that further to its press release dated July 3rd, 2024, it has closed its option agreement dated July 2nd, 2024 (“Agreement”) between the Company, Fulcrum Metals Plc. (“Fulcrum”, AIM:FMET) and Fulcrum Metals (Canada) Ltd. (“Fulcrum Canada”), a wholly-owned subsidiary of Fulcrum, pursuant to which the Company has obtained a four-year option (the “Option”) to acquire a 100% interest in Fulcrum’s uranium portfolio of exploration licences located in northern Saskatchewan, Canada and collectively encompassing 596.71 km2 of highly prospective terrain for a tier one uranium discovery. See the Company’s press release dated July 3rd, 2024 for further details regarding the Agreement. On closing of the Agreement, the Company issued 1,997,151 common shares of the Company to Fulcrum Canada, at a deemed issue price of $0.125 per share, and issued 1,198,291 common shares of the Company to Global Energy Metals Corporation as a finder’s fee, at a deemed issue price of $0.125 per share. The common shares of the Company issued in connection with the Option are subject to a hold period of four months from the date of issuance in accordance with applicable securities laws in Canada. About the Company Terra Balcanica is a polymetallic and energy metals exploration company targeting large-scale mineral systems in the Balkans of southeastern Europe and northern Saskatchewan, Canada. The Company has 90% interest in the Viogor-Zanik Project in eastern Bosnia and Herzegovina and owns 100% of the Ceovishte mineral exploration licence in southern Serbia. The Canadian assets comprise a 100% optioned portfolio of uranium-prospective licences at the outskirts of the world-renowned Athabasca basin: Charlot-Neely Lake, Fontaine Lake, Snowbird, and South Pendleton. The Company emphasizes responsible engagement with local communities and stakeholders. It is committed to proactively implementing Good International Industry Practice (GIIP) and sustainable health, safety, and environmental management. ON BEHALF OF THE BOARD OF DIRECTORS Terra Balcanica Resources Corp.“Aleksand...