Terra Balcanica Acquires 100% of Viogor Project in Bosnia and Announces Extension to Private Placement Financing
Vancouver, British Columbia, Sept. 21, 2026 (GLOBE NEWSWIRE) -- Terra Balcanica Resources Corp. (“Terra” or the “Company”) (CSE:TERA; FRA:UB1; OTCQB:TEBAF) is pleased to announce that it has entered into an agreement to acquire complete ownership of the Viogor polymetallic exploration project (“Project”) in Bosnia by acquiring (the “Acquisition”) the remaining 10% equity interest in its Bosnian subsidiary in consideration for the issuance of common shares to two arm’s length minority shareholders of such subsidiary (the “Vendors”).
Project Acquisition
The Company has secured the remaining 10% of the ownership in its Bosnian subsidiary Drina resources doo Srebrenica in exchange for the issuance of an aggregate of 6,331,400 common shares in the capital of the Company (the “Consideration Shares”) to the Vendors. Terra has previously obtained a new mineral exploration licence (“Permit”) comprising the Viogor Project in eastern Bosnia and Herzegovina as announced in the Company’s news release dated June 3rd, 2026. The new Permit for the “Pb-Zn-Cu and associated base and precious metals” No. 05.04/310-366-3/26 was issued to Energetski minerali doo Banja Luka, a wholly owned Terra subsidiary, by the Republic of Srpska Ministry of Energy and Mines on May 20th, 2026. The Permit is valid for 3 years with standard provisions for two, 2-year long extensions allowing for up to 7 years of mineral exploration tenure.
The Consideration Shares to be issued pursuant to the Acquisition will be subject to a hold period of four months and one day from the date of issuance in accordance with applicable securities laws. The Acquisition remains subject to the approval of the Canadian Securities Exchange.
Financing Extension
The Company also announces an extension to its non-brokered private placement (the “Private Placement”), initially announced in the Company’s news release dated June 24th, 2026, for gross proceeds of up to C$750,000 through the issuance of up to 15,000,000 units (each a “Unit”) at a purchase price of C$0.05 per Unit. The Company has extended the closing date (the “Closing Date”) of the Private Placement to be on or before October 8th, 2026.
Each Unit will be comprised of one common share in the capital of the Company (“Common Share”) and a Common Share purchase warrant (“Warrant”) to purchase an additional one common share of the Company (“Warrant Share”) at an exercise price of C$0.10 per Warrant Share for a period of 24 months from the Closing Date. The Units are being offered by way of prospectus exemptions in Canada, in the United States pursuant to available exemptions from the registration requirements and in certain jurisdictions outside of Canada and the United States, as determined by the Company. The Common Shares, Warrants and Warrant Shares, if issued within four months of the Closing Date, will be subject to a hold period of four months plus one day from the Closing Date in accordance with applicable Canadian securities laws and the policies of the Canadian Securities Exchange if applicable. The Private Placement is subject to certain conditions, including any requisite approval of the Canadian Securities Exchange and certain other customary conditions including, but not limited to, execution of subscription agreements between the Company and the subscribers. In certain circumstances, the Company may pay finder’s fees in cash and warrants on a portion of the Private Placement.
Terra intends to use the proceeds of the Private Placement to pay for: i) executing a ground geophysical survey at the Cumavici target, and ii) commencing the Phase IV drilling program at Cumavici within its Viogor project in Bosnia and Herzegovina, and iii) for working capital purposes.
About the Company
Terra Balcanica is a silver and antimony-focused polymetallic exploration company targeting large-scale mineral systems in the Balkans of southeastern Europe. The Company has 100% interest in the Viogor Project in eastern Bosnia and Herzegovina. Terra owns a 39.5% stake in Terra North Resources Corp. and its Canadian assets that comprise a 100% optioned portfolio of uranium-prospective claims surrounding the world-renowned Athabasca basin. The Company emphasizes responsible engagement with local communities and stakeholders. It is committed to proactively implementing Good International Industry Practice (GIIP) and sustainable health, safety, and environmental management.
ON BEHALF OF THE BOARD OF DIRECTORS
Terra Balcanica Resources Corp.
“Aleksandar Mišković”
Aleksandar Mišković
President and CEO
For the complete information on this news release, please contact Aleksandar Mišković at amiskovic@terrabresources.com, +1 (514) 796-7577, or visit www.terrabresources.com/en/news.
Cautionary Statement
This news release contains certain forward-looking information and forward-looking statements within the meaning of applicable securities legislation (collectively “forward-looking statements”). The use of any of the words “will”, “intends” and similar expressions are intended to identify forward-looking statements. Forward-looking statements contained in this press release include, but are not limited to, the terms and completion of the Private Placement, the anticipated Closing Date, the payment of finder’s fees and the use of proceeds for the Private Placement and the completion of a going-public transaction by Terra North. These statements involve known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking statements. These forward-looking statements are based on a number of assumptions which may prove to be incorrect including, but not limited to, the ability to obtain regulatory approval for the Private Placement; the state of the equity financing markets in Canada and other jurisdictions; volatility and sensitivity to market prices; volatility and sensitivity to capital market fluctuations; and fluctuations in metal prices. Such forward-looking statements should not be unduly relied upon. Actual results achieved may vary from the information provided herein as a result of numerous known and unknown risks and uncertainties and other factors. The Company believes the expectations reflected in those forward-looking statements are reasonable, but no assurance can be given that these expectations will prove to be correct. The Company does not undertake to update these forward-looking statements, except as required by law.
