SOURCE: Terrace Ventures Inc.

August 28, 2006 21:05 ET

Terrace Ventures Inc. Public Offering

BLAINE, WA -- (MARKET WIRE) -- August 28, 2006 -- Terrace Ventures Inc. (OTCBB: TVEN) (the "Company") announced today that its board of directors have approved an offering on a private placement basis, of up to 5,000,000 units at a price of $0.10 per unit. Each unit will consist of one common share and one share purchase warrant, with each warrant entitling the holder to purchase an additional common share at a price of $0.10 per share for a period of one year from closing. The offering will be made in accordance with exemptions from applicable securities laws. The proceeds of the offering will be used to fund the Company's mineral exploration business and for general corporate purposes. There is no assurance that any units will be sold under the offering.

This Press Release may contain, in addition to historical information, forward-looking statements. These forward-looking statements are based on management's expectations and beliefs, and may involve known and unknown risks and uncertainties and other factors that may cause the actual results to be materially different from the results implied herein. In particular there is no assurance that any units will be sold or the private placement will be completed.

Readers are cautioned not to place undue reliance on the forward-looking statements made in this Press Release.


Chief Executive Officer and President

Contact Information

  • Contact:
    801 Peace Portal Drive, Suite 202
    Blaine, WA 98230
    (360) 220-5218