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TERRENO RESOURCES Closes $325,500 Financing
(TheNewswire) TORONTO, CANADA – TheNewswire - July 27, 2022 - Terr...
About this update from Terreno Resources Corp.
[{"type":"text","content":"TERRENO RESOURCES Closes $325,500 Financing \n \n \n (TheNewswire)\n \n \n \n \n \n \n \n \n \n TORONTO, CANADA –\n \n \n TheNewswire -\n \n \n July 27, 2022 -\n \n \n Terreno Resources Corp.\n \n \n (TSXV:TNO.H) (“\n \n \n Terreno\n \n \n ” or the “\n \n \n Company\n \n \n ”) wishes to\nannounce that the Company has filed a revised Form C (Notice of\nProposed Share Issuance/ Financing) for regulatory approval to close a\n$325,500 financing.\n \n \n \n \n The total financing is for 6,510,000 units at $0.05.\nEach unit consists of one common share plus one full warrant\nexercisable at $0.06 for twelve months from the date of closing.\nSubject to regulatory approval, the Company intends to request an\nextension of the warrants for a second year exercisable at $0.07 and a\nthird year exercisable at $0.08 as part of the application to graduate\nfrom the NEX board to the TSX Venture Exchange.\n \n \n \n \n \n \n The first tranche\nconsisted of 4,910,000 common shares issued September 20, 2021 with a\nlegend date of January 21, 2022 and 4,910,000 warrants exercisable at\n$0.06 for twelve months to September 20, 2022.\n \n \n The second tranche consisted of 1,600,000 common shares\nissued November 5, 2021 with a legend date of March 6, 2022 and\n1,600,000 warrants exercisable at $0.06 for twelve months to November\n5, 2022. The numbers of shares and warrants above have been reduced\nfrom the numbers news released September 20, 2021 and November 5, 2021\nto reflect deducting the amounts from the CEO now reflected below as\nshares for debt.\n \n \n \n \n The Company has also filed a Form C (Notice of Proposed\nShare Issuance/ Financing) for regulatory approval. This Form C is for\na Shares for Debt for settlement of $45,000 of debt to the CEO with\nthe issue of 600,000 common shares on September 20, 2021 with a legend\ndate of January 21, 2022 and 300,000 common shares issued November 5,\n2021 with a legend date of March 6, 2022. The 600,000 warrants issued\nSeptember 20, 2021 and the 300,000 warrants issued November 5, 2021\nhave been cancelled as this is considered a non arms length\ntransaction.\n \n \n \n \n Subsequent to the close of this financing and the\nshares for debt transactions, the Company has 58,971,506 common shares\nissued and outstanding.\n \n \n \n \n Additional information on the Com...