TERRA BALCANICA CLOSES SECOND TRANCHE OF FINANCING AND STARTS PHASE II DRILLING AT BREZANI PORPHYRY TARGET IN BOSNIA

Second Tranche Private Placement Financing Closed The Company released an aggregate of 3,620,564 Units at a rate of $0.085 per Unit for gross earnings of $307,748 pursuant to the Offering revealed on April 4th, 2023. Each Unit includes one typical share in the capital of the Company (each, a “Common Share”) and one Common Share purchase warrant (each whole warrant, a “Warrant”). Each Warrant entitles the holder to acquire one Common Share at a workout cost of $0.13 up until June 22nd, 2026. The Company plans to utilize the net profits of the Offering for working capital and to money the Phase II drilling throughout its portfolio of residential or commercial properties. Finders’ charges in the quantity of $10,465 were paid. Aleksandar Mišković, President, CEO and a director (the “Insider”), bought 147,059 Units as part of the Offering. The issuance of the Units to the Insiders makes up a “associated celebration deal” as this term is specified in Multilateral Instrument 61-101 – Protection of Minority Securityholders in Special Transactions (“MI 61-101”). The Company is depending on the exemption from assessment requirement and minority approval pursuant to subsection 5.5(a) and 5.7(a) of MI 61-101, respectively, as the securities do not represent more than 25% of the Company’s market capitalization, as figured out in accordance with MI 61-101. The involvement by an Insider in the Offering was authorized by directors of the Company who are independent in connection with such deals. Pursuant to appropriate Canadian securities laws, all securities released and issuable in connection with the closing of the Private Placement will be based on a 4 (4) month hold duration ending October 22nd, 2023. This press release does not make up a deal to offer or a solicitation of a deal to offer any of the securities in the United States. The securities have actually not been and will not be signed up under the United States Securities Act of 1933, as modified (the “U.S. Securities Act”) or any state securities laws, and might not be provided or offered within the United States, or to or for the account or advantage of any U.S. individual or anyone in the United States, unless signed up under the U.S. Securities Act and suitable state securities laws or an exemption from such registration is offered. “United States” and “U.S. Person” are as specified in Regulation S under the U.S. Securities Act. Shares for Debt The Company has actually accepted settle arrearage in the quantity of CDN$ 50,000 (the “Debt”) owing to a lender (the “Creditor”) by releasing an aggregate of 588,236 typical shares in the capital of the Company (the “Common Shares”) at a rate of $0.085 per Common Share (the “Shares for Debt Transaction”). The Creditor is a personal business 100% owned by Aleksandar Ilic, a director and investor of the Company. The Board of Directors has actually identified it remains in the very best interests of the Company to settle the arrearage through the issuance of the Common Shares in order to maintain the Company’s money for continuous operations. The issuance of the Common Shares to the Creditor makes up a “associated celebration deal” as this term is specified in Multilateral Instrument 61-101 – Protection of Minority Securityholders in Special Transactions (“MI 61-101”). The Company is counting on the exemption from assessment requirement and minority approval pursuant to subsection 5.5(a) and 5.7(a) of MI 61-101, respectively, as the securities do not represent more than 25% of the Company’s market capitalization, as identified in accordance with MI 61-101. Closing of the Shares for Debt Transaction undergoes popular closing conditions and meant to close as quickly as practicable. The Common Shares to be released pursuant to the Shares for Debt Transaction will undergo a hold duration of 4 (4) months and one (1) day from the date of issuance. Shares for Services The Company participated in an arm’s length shares for services arrangement dated April 18th, 2023 (the “Agreement”) with a business offering drilling services at Terra’s Viogor-Zanik residential or commercial property (the “Service Provider”). For conclusion of services rendered under the Agreement in between April 18th, 2023 and June 19th, 2023 the Company plans to release (i) 984,378 systems of the Company (“Consideration Units”) to the Service Provider, with each Consideration Unit including one typical share in the capital of the Company (a “Share”) and one typical share purchase warrant (a “Warrant”). Each Warrant will entitle the holder thereof to get one extra Share for a duration of 36 months from the date of issuance at a workout of $0.13. Each C
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