Vancouver, British Columbia, June 22, 2022 (GLOBE NEWSWIRE) — Terra Balcanica Resources Corp. (“Terra” or the “Company”) (CSE:TERA) announces the execution of further voluntary escrow agreements with key strategic shareholders, engagement of an IR consultant, and grants stock options.
In addition to the Canadian Securities Exchange (“CSE”) and British Columbia Securities Exchange (“BCSC”) escrow provisions, the Company has executed further voluntary escrow agreements for an additional 5,430,625 shares with 12-month or 36-month release schedules from key strategic shareholders and close associates. The Company currently has 73,512,223 issued and outstanding common shares, with 34,800,001 shares, or 47.3%, escrowed or voluntary escrowed with 12-month or 36-month release schedules.
The Company announces the grant of 1,995,000 incentive stock options (the “Options”) to certain advisors, employees, and consultants in accordance with the Company’s stock option plan (the “Option Plan”). The Options are exercisable for C$0.20 per common share for periods ranging from 2 years to 5 years from date of issuance.
Engagement of IR Consultant and Grant of Stock Options
The Company has engaged Paradox Public Relations Inc. (“Paradox”) for a 36 month period that began on June 22, 2022 and ends on June 22, 2025 and may be terminated at any time without charge by either party by giving 30 days’ notice in writing. Paradox will provide marketing and investor relation services to the company to increase public awareness. Paradox has been granted 500,000 options, with 125,000 options vesting quarterly for the next year, eligible to be exercised at a price of C$0.20 per common share for a period of 36 months from the date of issuance. Paradox is being paid a monthly fee of C$10,000.
Carl Desjardins is the Managing Partner of Paradox and has been a promoter of Terra Balcanica within the past two years, and as a result is a Related Party (as such term is defined in Policy 2 of the CSE) to the Company.
All securities issued to Paradox are subject to a four month hold period from the date of issuance, in accordance with the policies of the CSE.
About the Company
Terra Balcanica is a polymetallic exploration company targeting large-scale mineral systems in the Balkans of southeastern Europe. The Company has 90% interest in the Viogor-Zanik Project in eastern Bosnia and Herzegovina, 100% of the Kaludra mineral exploration licence in Serbia and has a pending exploration license at the Ceovishte property in Serbia. 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.
CEO and Director
Paradox Public Relations Inc.
+1 (514) 341-0408
This news release contains certain forward-looking information and forward-looking statements within the meaning of applicable securities legislation (collectively “forward-looking statements”). The use of any of the words “will”, “intends” and similar expressions are intended to identify forward-looking statements. These statements involve known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking statements. Such forward-looking statements should not be unduly relied upon. Actual results achieved may vary from the information provided herein as a result of numerous known and unknown risks and uncertainties and other factors. The Company believes the expectations reflected in those forward-looking statements are reasonable, but no assurance can be given that these expectations will prove to be correct. The Company does not undertake to update these forward-looking statements, except as required by law.