Daniel Carriere

May 18, 2012 17:00 ET

Early Warning Report

VANCOUVER, BRITISH COLUMBIA--(Marketwire - May 18, 2012) - Mr. Daniel A. Carriere announces that he has acquired beneficial ownership of a total of an additional 1,403,400 common shares (the "Shares") in the capital of Terrace Energy Corp ("Terrace") through the facilities of the TSX Venture Exchange.

After giving effect to the purchases referred to above, Mr. Carriere beneficially owns a total of 10,691,376 common shares of Terrace and stock options exercisable to purchase an aggregate of 250,000 common shares of Terrace, which collectively represent 16.99% of Terrace's issued and outstanding common shares on a non-diluted basis or 17.12% of Terrace's issued and outstanding common shares calculated on a partially-diluted basis assuming the exercise of the stock options held by Mr. Carriere that have vested and will vest within 60 days of the date hereof.

Mr. Carriere acquired the Shares for investment purposes. He intends to evaluate his investment in Terrace and to increase or decrease his beneficial shareholdings from time to time as he may determine appropriate for investment purposes.

A copy of the early warning report filed on SEDAR by Mr. Carriere may be obtained by contacting Murray Oliver, a director of Terrace at (604) 687-0008.

Daniel Carriere
307-1178 Hamilton Street
Vancouver, BC
V6B 2S2

NEITHER TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.

Contact Information

  • Terrace Energy Corp.
    Murray Oliver
    Director
    (604) 687-0008