Terra Clean Energy (CSE:TCEC) has announced a C$2 million ($2.01 million) brokered private placement led by Centurion One Capital.
The uranium exploration and development company will issue up to 14,285,714 units at C$0.14 per unit. Each unit comprises one common share and one warrant exercisable at C$0.22 for three years from closing.
The warrants include an acceleration clause, allowing Terra Clean Energy to shorten the expiry period to 30 days if shares trade above C$0.44 for 15 consecutive trading days.
Centurion One Capital holds an option to increase the offering by an additional 2,142,857 units, which would raise total proceeds to C$2.3 million.
Terra Clean Energy will use proceeds for capital expenditures and general working capital purposes across its uranium portfolio.
The company will pay Centurion One Capital an 8% cash fee plus broker warrants equal to 8% of units issued. The broker warrants carry the same C$0.14 exercise price and three-year term.
The private placement covers British Columbia, Alberta, Ontario, and Québec in Canada, plus select international jurisdictions. Securities carry a four-month hold period from closing.
Company insiders and the lead agent may acquire up to 100% of the offering, constituting a related party transaction under Multilateral Instrument 61-101. The participation is expected to be exempt from formal valuation and minority approval requirements, as the consideration remains below 25% of market capitalisation.
The offering targets closure around 5 October, subject to Canadian Securities Exchange approval and standard conditions.
Terra Clean Energy is developing the South Falcon East Uranium Project in Saskatchewan’s Athabasca Basin, alongside past-producing uranium assets in Utah and exploration properties in Wyoming.
The company focuses on advancing late-stage uranium projects to support growing nuclear power demand and domestic mineral supply chains.
CEO Greg Cameron leads the Vancouver-based company as uranium markets strengthen amid renewed interest in nuclear energy for clean power generation.
The private placement provides working capital as Terra Clean Energy advances its North American uranium portfolio through exploration and development activities.
Terra Clean Energy is a Canadian uranium exploration and development company advancing uranium projects in Saskatchewan’s Athabasca Basin, Utah, and Wyoming, US.
Write to JC Villarba at Mining.com.au
Images: Terra Clean Energy
