Terraco Gold Corp.
TSX VENTURE : TEN

Terraco Gold Corp.

July 17, 2015 12:51 ET

Terraco Gold Announces CAN$600,000 Private Placement

VANCOUVER, BRITISH COLUMBIA--(Marketwired - July 17, 2015) -

THIS NEWS RELEASE IS NOT FOR DISTRIBUTION TO THE UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES

Terraco Gold Corp. (TSX VENTURE:TEN) ("Terraco" or the "Company") is pleased to announce a non-brokered private placement (the "Private Placement") of up to 8,000,000 units (the "Units") at a price of CAN$0.075 per Unit, for total gross proceeds of up to CAN$600,000. Each Unit will be comprised of one common share of the Company (a "Share") and one-half of one share purchase warrant (a "Warrant"). Each whole Warrant will entitle the holder thereto to purchase for a period of twenty-four (24) months one additional Share (a "Warrant Share") at an exercise price per Warrant Share of CAN$0.10.

All securities issued under the Private Placement will be subject to a hold period of four months and one day from the closing date. The Company may pay finders' fees in cash and issue finders' warrants. The Private Placement and finders' fees are subject to regulatory approval.

Net proceeds from the Private Placement will be used for corporate development and general working capital purposes related to 2015 and 2016.

About Terraco Gold

Terraco is a junior mining company with a gold project portfolio that includes a gold royalty and royalty options on Spring Valley (Nevada), which is a joint venture operated by Barrick Gold Corporation. Terraco also controls over 35 sq kms of early-stage exploration potential (the Moonlight Project) adjoining the Spring Valley joint venture to the north. In addition, Terraco has an advanced-stage gold project in Idaho which has disclosed a mineral resource estimate in compliance with National Instrument 43-101.

Terraco is listed on the TSX Venture Exchange under the symbol "TEN". Please visit Terraco's website at www.terracogold.com for additional information.

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.

Forward Looking Statements

This release contains forward looking statements. More particularly, this release contains statements concerning the anticipated Private Placement. Although Terraco believes that the expectations reflected in these forward looking statements are reasonable, undue reliance should not be placed on them because Terraco can give no assurance that they will prove to be correct. Since forward looking statements address future events and conditions, by their very nature they involve inherent risks and uncertainties. The closing of the Private Placement could be delayed if Terraco is not able to obtain the necessary regulatory and stock exchange approvals on the timelines it has planned. The Private Placement will not be completed at all if these approvals are not obtained or some other condition to the closing is not satisfied. Accordingly, there is a risk that the Private Placement will not be completely sold, completed within the anticipated time or at all. Additional information on these and other factors that could affect Terraco's operations and financial results are included in reports on file with Canadian securities regulatory authorities and may be accessed through the SEDAR website (www.sedar.com).

Contact Information

  • Terraco Gold Corp.
    Todd Hilditch
    President and CEO
    (604) 443-3831
    (604) 682-3860 (FAX)
    Toll free: 1 877 792-6688 Ext 2