Oct. 15, 2010 (Filing Services Canada) -- Terreno Resources Corp. (TNO - TSX Venture), is pleased to announce that it has closed the first tranche of its non-brokered private placement announced on September 20, 2010 and September 28, 2010, raising the Company $729,500 through the issuance of 4,863,336 units at a price of $0.15 per unit. Each unit consists of one common share and one share purchase warrant, with each share purchase warrant entitling the holder to acquire an additional common share of the Company at a price of $0.20 per share for a two year period. The securities issued under the private placement are subject to a four month hold period expiring on February 16, 2011.
The balance of the units offered for sale in the previously announced non-brokered private placement will be closed in subsequent tranches.
About Terreno Resources
Terreno, 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 & Director
For further information, please contact:
Nicola Street Capital
Tel: 604.569.0056
Neither 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.
1430 - 800 West Pender Street
Vancouver, BC, Canada V6C 2V6
Tel 604.688.8316
Fax 604.684.2990
info@terrenoresources.com
www.terrenoresources.com
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