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Terreno Resources Corp. Announces $2.5 Million Private Placement
Terreno Resources Corp. Announces $2.5 Million Private Placement
About this update from Terreno Resources Corp.
[{"type":"text","content":"\nTerreno Resources Corp. Announces $2.5 Million Private Placement\n\n\n Sep. 20, 2010 (Filing Services Canada) -- Terreno Resources Corp. (TNO - TSX Venture), (\"Terreno\" or the \"Company\") reports that the Company has arranged a non-brokered private placement (the \"Offering\") of up to 16,666,667 units (each a \"Unit\") at a price of $0.15 per Unit to raise aggregate proceeds of $2,500,000. Each Unit is comprised of one common share and one share purchase warrant. Each share purchase warrant (a \"Warrant\") entitles the holder to acquire one additional common share for a period of two years at a price of $0.20. A finder's fee of 8% of the proceeds placed payable in cash and 10% of the Units placed payable in Warrants is payable on portions of the placement to registered agents/brokers.Proceeds of the placement will be applied to the Company's Amarillo project located in the San Juan province of Argentina in addition to general working capital.It is currently anticipated that subscribers to the Offering will include insiders and/or control persons of Terreno or their affiliates.The Offering is subject to the approval of the TSX Venture Exchange and all securities issued will be subject to a standard four-month hold period.About Terreno ResourcesTerreno, meaning \"of the earth\" in Spanish, represents the Company's focus on natural resource opportunity development in South America. Over time Terreno intends to assemble a portfolio of projects with short, medium and long term liquidity capabilities. We intend to take advantage of the vast array of natural resource exploitation opportunities in South America and plan to become a leading developer of assets on this exciting continent of South America through acquisitions or partnerships.On behalf of the Board of Directors\"John Icke\"Interim Chief Executive Officer & DirectorFor further information, please contact:Nicola Street CapitalTel:  604.569.0056Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.Terreno Resources Corp.\t1430 - 800 West Pender Street\tTel 604.688.8316\twww.terrenoresources.com Vancouver, BC, Canada V6C 2V6\tFax 604.684.2990\[email protected] Maximum News Dissemination by Filing Servi...