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CALGARY, ALBERTA--(Marketwired - July 22, 2016) - Teras Resources Inc. ("Teras" or the "Company") (TSX VENTURE:TRA): announces that it has increased the size of its previously announced non-brokered private placement of units (each a "Unit"). In addition, Teras announces that it has completed the closing of the private placement of Units, subject to final approval of the TSX Venture Exchange. Teras issued 9,454,332 Units at a price of $0.12 per Unit for gross proceeds of $1,134,520. Each Unit consists of one common share (a "Common Share") and one Common Share purchase warrant (a "Warrant"). Each Warrant is exercisable into one Common Share at a price of $0.24 per share for a period of two years from the issuance of such Warrant. |
