Teras Resources (TRA-V) has received the final deposit of $2,613,996 from the exercise of outstanding warrants. In October, 2010, the company completed a financing whereby it issued 5,666,666 units at 30 cents which included a warrant to purchase one common share for a price of 55 cents with an expiry date of Oct. 15, 2013. The balance of the outstanding warrants have been exercised and the company has received full payment.
Peter Leger, president and chief executive officer of Teras Resources, commented: "We are very grateful for the financial support and appreciate the continued confidence of our loyal shareholders who have exercised their warrants. We are proud of the progress we have made in tough market conditions and will continue to work hard to increase shareholder value. The exercise of these warrants strengthens our balance sheet and overall financial position, further ensuring we have sufficient resources to advance our flagship project Cahuilla."
News Release - Oct 17, 2013 |
