Terrace Energy Corp.
TSX VENTURE : TZR

Terrace Energy Corp.

May 02, 2012 09:00 ET

Terrace Announces Private Placement

VANCOUVER, BRITISH COLUMBIA--(Marketwire - May 2, 2012) - Terrace Energy Corp. (TSX VENTURE:TZR) -

NOT FOR DISSEMINATION IN THE UNITED STATES

Terrace Energy Corp. (the "Company") announces that it has received subscriptions for a non-brokered private placement of 10 million shares at a price of $1.00 per share for aggregate gross proceeds of $10,000,000. The Company expects to close the private placement upon receipt of acceptance from the TSX Venture Exchange.

No commission or finders' fee will be payable by the Company in respect of the private placement.

The proceeds of the private placement will be used to fund current financial commitments and for general working capital purposes.

APPROVED BY THE BOARD OF DIRECTORS

Eric Boehnke, C.E.O.

Neither the 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.

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