Terreno Resources Corp. Announces 100% Warrant Exercise
Toronto, January 15, 2018 - Terreno Resources Corp. (TSXV: TNO.H) ("Terreno" or the "Company") announces that it has received warrant exercises for 100% of the 3,000,000 warrants exercisable at $0.05 until February 10, 2018. The warrant proceeds of $150,000 are in addition to the $350,000 of proceeds received from the private placement that received TSX Venture Exchange final acceptance on January 2, 2018. Mr. Brown states that: "The Company continues to evaluate several potential projects to acquire in order to apply to graduate to the TSX Venture Exchange and is pleased that these warrant exercises provides us with additional financial resources to meet the graduation requirements of Policy 2.5 for working capital of the greater of $50,000 or the amount required to maintain operations and cover general and administrative expenses for a minimum of six (6) months."
The proceeds will be used for general working capital requirements to maintain a listed public company and to conduct due diligence on any potential property of merit projects with the intention to apply to graduate to the TSX Venture Exchange.
Additional information on the Company is available at www.sedar.com
For additional information, contact: Tel: (905) 467-1109
Email: georgeabrown0955@gmail.com
Suite 1102, 44 Victoria Street, Toronto, Ontario M5C 1Y2
Neither The TSX Venture Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.
This news release does not constitute an offer to sell or a solicitation of an offer to buy any of Terreno's securities in the United States. None of the securities have been and will not be registered under the United States Securities Act of 1933, as amended (the "1933 Act"), or any state securities laws and may not be offered or sold within the United States or to U.S. persons unless registered under the 1933 Act and applicable state securities laws, or an exemption from such registration is available. Any public offering of securities in the United States must be made by means of a prospectus that contains detailed information about Terreno and its management, as well as financial statements.
This release may contain certain "forward looking statements" and certain "forward-looking information" as defined under applicable Canadian and U.S. securities laws. Forward-looking statements and information can generally be identified by the use of forward-looking terminology such as "may", "will", "expect", "intend", "estimate", "anticipate", "believe", "continue", "plans" or similar terminology. Forward-looking statements and information include, but are not limited to, statements with respect to the transactions contemplated, any requisite regulatory approvals in respect thereof and proposed future transactions Tereno may undertake and their expected timing. Forward-looking statements and information are based on forecasts of future results, estimates of amounts not yet determinable and assumptions that, while believed by management to be reasonable, are inherently subject to significant business, economic and competitive uncertainties and contingencies. Forward-looking statements and information are subject to various known and unknown risks and uncertainties, many of which are beyond the ability of Terreno to control or predict. Terreno undertakes no obligation to update forward-looking information except as required by applicable law. Such forward-looking information represents management's best judgment based on information currently available. No forward-looking statement can be guaranteed and actual future results may vary materially. Accordingly, readers are advised not to place undue reliance on forward-looking statements.
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