VANCOUVER, BRITISH COLUMBIA--(Marketwired - Jul 15, 2013) - Terrace Energy Corp. (TSX VENTURE:TZR)(OTCQX:TCRRF)(FRANKFURT:2TR) (the "Company") announces, further to its news release dated July 4, 2013, that it received approval from the TSX Venture Exchange to and has completed the issuance of 80,000 common shares (the "Shares") of the Company in settlement of US$140,000 of a bonus payable to the Company's President [...]
Terrace Energy has agreed, subject to the approval of the TSX Venture Exchange, to issue 80,000 common shares in settlement of US$140,000 of a bonus payable to the Company's President, Dave Gibbs. The bonus and the issuance of the Shares were reviewed, considered and approved by the Company's Compensation Committee, a majority of the members of which are independent directors of the Company and does not include Mr. Gibbs [...]
Terrace Energy is pleased to announce it has completed the final $3,245,000 tranche of two previously announced non-brokered private placements of convertible, unsecured promissory notes in the aggregate principal amount of $40,000,000. The terms of the Notes were previously disclosed in press releases dated May 6 and April 2, 2013.
Terrace Energy is pleased to provide the following operations update. The Company and its partner, BlackBrush Oil & Gas LP, are in the process of forming a limited partnership, BlackBrush Terrace LP, to earn a 50% operated working interest in approximately 147,000 acres, principally in Maverick County in the emerging Pearsall Shale Trend in South Texas. The first well, Chittim 1-H, was successfully drilled to a total [...]
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