04:15 PM EDT, 10/04/2024 (MT Newswires) -- Terra Balcanica Resources (TERA.CN) on Friday said it extended the closing of the fourth and final tranche of the previously announced $1.45-million priovate placement of shares to Nov.1.

The financing is made up of up to 14.5-million units at a price of $0.10 per each and made up of a share and a three-year warrant to buy a second share for $0.15.

The company has raised aggregate gross proceeds of $948,760 in prior tranches.

Terra intends to use the net proceeds of the offering for working capital and to fund the field campaign across its portfolio of properties in Saskatchewan and the Balkans.