Terreno Resources Corp.

Terreno Resources Corp.

November 28, 2013 16:22 ET

Terreno Resources Corp. closes its Private Placement Financing

TORONTO, ONTARIO--(Marketwired - Nov. 28, 2013) - Terreno Resources Corp. (TSX VENTURE:TNO) ("Terreno" or the "Company") announces that it has closed its non-brokered private placement announced on August 27, 2013 and November 1, 2013, raising gross proceeds of $160,000 through the issuance of 3,200,000 units at a price of $0.05 per Unit (each a "Unit"). Each Unit is comprised of one common share and one half share purchase warrant. Each full purchase warrant (a "Warrant") entitles the holder to acquire one additional common share for a period of three years at a price of $0.10. The securities issued under the private placement are subject to a four month hold period expiring on March 29, 2014.

Proceeds of the placement will be applied to the company's gold, copper and silver projects in Argentina and the Dominican Republic, in addition to general working capital.

Subscribers to the placement included insiders and or control persons of Terreno or their affiliates purchasing 3,200,000 Units.

About Terreno Resources

Terreno, meaning "of the earth" in Spanish, represents the Company's focus on natural resource opportunity development in South America. Terreno has option agreements on three exploration projects in Argentina; La Poposa (formerly referred to as Amarillo) in San Juan, Socompa and Trigal in Salta. All three projects boast significant alteration systems and have the potential for copper, gold and silver mineralization. For more information, please visit www.terrenoresources.com.

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.

Contact Information

  • Terreno Resources Corp.
    Gerry Feldman, CA
    Chief Financial Officer

    Terreno Resources Corp.
    Richard Patricio
    Interim President and CEO