04:32 PM EDT, 07/11/2025 (MT Newswires) -- Terra Balcanica Resources (TERA.CN) on Friday said it closed the first tranche of a non-brokered, listed issuer financing exemption (LIFE) private placement that raised $0.81 million.

The company said it placed 8.14-million units priced at $0.10 each and made up of a share and a two-year warrant to buy a second share of $0.20.

It is also extending the final closing date of the private placement to raise $1.11 million, on or before Aug. 11, 2025.

Separately, Terra is exercising its first year of the option conditions required to acquire a 100% interest in the Fulcrum's Charlot-Neely Lake, Fontaine Lake, Snowbird, and South Pendleton license clusters located along northern and southeastern margins of Saskatchewan's Athabasca Basin. Terra will pay Fulcrum $50,000 in cash and issue Fulcrum Metals (Canada) Ltd. $350,000 of Terra shares.

The company's shares closed unchanged at $0.10 on the Canadian Securities Exchange.