Terra Balcanica acquires remaining 10% of Bosnian subsidiary

Terra Balcanica Resources Corp. has reached a deal to acquire the final 10% stake in its Bosnian subsidiary, Drina resources doo Srebrenica, according to a press release. The company will issue 6,331,400 common shares to the subsidiary's minority shareholders in exchange for full ownership of the Viogor polymetallic exploration project.

The project, located in Bosnia, holds potential for lead, zinc, copper, and other valuable metals. Terra previously secured a mineral exploration permit for the project in May 2026, valid for three years with options for two extensions. The newly issued shares will be subject to a four-month hold period. Additionally, Terra has extended its non-brokered private placement, which was initially set to close on June 24, 2026.

The placement, now extended to October 8, 2026, allows for the sale of up to 15 million units at C$0.05 per unit, potentially raising C$750,000. Proceeds from the private placement will fund a geophysical survey, Phase IV drilling at the Viogor site, and working capital needs. The private placement is also awaiting Canadian Securities Exchange approval.