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GlobeNewswire·

Terra Clean Energy Announces Closing of Oversubscribed $2.4 Million Financing Led by Centurion One Capital

TCEFF
  • Terra Clean Energy Corp. successfully closed an upsized brokered private placement raising approximately $1.97 million & a concurrent non-brokered offering raising $461,062, for total gross proceeds of $2,427,916.
  • The Offerings were led by Centurion One Capital Corp. as lead agent & sole bookrunner for the brokered portion, with the firm also serving as fiscal advisor for the non-brokered portion.
  • A total of 17,342,257 Units were sold at $0.14 per Unit, with each Unit comprising one common share & one share purchase warrant.
  • Each warrant allows the holder to purchase one share at $0.22 for three years from the October 6, 2026 closing date.
  • Shares & warrants issued are subject to a statutory hold period of four months & one day from the closing date.
  • The Warrants are subject to an acceleration right if the daily volume-weighted average share price exceeds $0.44 over any 15 consecutive trading days.
  • Net proceeds will be used for capital expenditures & general working capital to advance the Marysvale Uranium Mines Project in Utah.
  • The Lead Agent received a cash commission of $194,233 & 1,387,380 broker warrants exercisable at the issue price for three years.
  • Insiders acquired 700,000 Units in a related party transaction that did not require a formal valuation or minority shareholder approval.
  • Terra Clean Energy is a Canadian uranium exploration company developing projects in Saskatchewan, Utah, & Wyoming to support domestic uranium supply.