Mr. Richard Patricio reports
TERRENO ANNOUNCES PRIVATE PLACEMENT
Terreno Resources Corp. has arranged a non-brokered private placement of up to three million units at a price of five cents per unit for gross proceeds of up to $150,000. Each unit will comprise one common share of the company and one common share purchase warrant. Each warrant will entitle the holder thereof to purchase one common share for a period of five years from the closing of the offering at a price of five cents per common share. The proceeds of the offering will be used to satisfy accounts payables and for general working capital purposes.
Closing of the offering is subject to receipt of all necessary corporate and regulatory approvals, including the approval of NEX. All securities issued in connection with the offering will be subject to a hold period of four months plus a day from the date of issuance and the resale rules of applicable securities legislation.
We seek Safe Harbor.
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