Terreno Resources Corp. Closes its Private Placement Financing
11 August 2011 - 10:47PM
Marketwired
Terreno Resources Corp. (TSX VENTURE: TNO) ("Terreno" or the
"Company") is pleased to announce that it closed its non-brokered
private placement announced on July 15, 2011 and July 25, 2011,
raising gross proceeds of $2,739,750 through the issuance of
18,264,997 units at a price of $0.15 per Unit (each a "Unit"). Each
Unit is comprised of one common share and one half share purchase
warrant. Each full purchase warrant (a "Warrant") entitles the
holder to acquire one additional common share for a period of two
years at a price of $0.25. The securities issued under the private
placement are subject to a four month hold period expiring on
December 10, 2011.
Finder's fees of $188,982 were paid in cash, and 1,259,883
Warrants were issued on the placement to registered agents and
brokers.
Proceeds of the placement will be applied to the company's gold,
copper and silver projects in Argentina, the phosphate and potash
projects in Brazil (subject to closing the transaction detailed in
a press release dated April 20, 2011), in addition to general
working capital.
Subscribers to the placement included insiders and or control
persons of Terreno or their affiliates purchasing 6,673,333
Units.
June Hamilton corporate secretary of the Company has resigned
effective immediately, and the Company thanks June for all her
efforts in the past years. Gerry Feldman, Chief Financial Officer
of the Company will assume June's duties as corporate
secretary.
About Terreno Resources
Terreno, meaning "of the earth" in Spanish, represents the
Company's focus on natural resource opportunity development in
South America. Terreno has option agreements on three exploration
projects in Argentina; La Poposa (formerly referred to as Amarillo)
in San Juan, Socompa and Trigal in Salta. All three projects boast
significant alteration systems and have the potential for copper,
gold and silver mineralization. For more information, please visit
www.terrenoresources.com.
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.
Contacts: Terreno Resources Corp. Gerry Feldman, CA Chief
Financial Officer 416-643-3884 Terreno Resources Corp. Philip
Williams, CFA President and CEO 416-643-7631
info@terrenoresources.com www.terrenoresources.com
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