/NOT FOR DISTRIBUTION TO UNITED
STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN
THE UNITED STATES/
VANCOUVER, July 31, 2014 /CNW/ - Terrace Energy Corp. (the
"Company") (TSXV: TZR, OTCQX: TCRRF; FRANKFURT: 2TR) is pleased to announce that
Canaccord Genuity Corp. ("Canaccord"), on behalf of a syndicate of
underwriters comprising Canaccord, Cormark Securities Inc., GMP
Securities L.P. and Salman Partners Inc., has completed the
exercise of the underwriters' over-allotment option. The
underwriters purchased an additional 1,623,000 common shares of the
Company at a price of $1.85 per share
for total gross proceeds of $3,002,550 under the Company's short-form
prospectus dated July 17, 2014.
The underwriters received a cash commission equal to 6.5% of the
gross proceeds raised.
Aggregate gross proceeds raised from the base offering of
10,820,000 common shares completed on July
23, 2014 and the over-allotment option total $23,019,550.
About Terrace Energy
Terrace Energy is an oil & gas development stage company
that is focused on unconventional oil & gas extraction in
onshore areas of the United
States, particularly in Southern
Texas.
ON BEHALF OF THE BOARD OF DIRECTORS
"Dan Carriere"
Dan
Carriere, Chairman
NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION
SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE
TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR
ACCURACY OF THIS RELEASE.
This news release does not constitute an offer to sell or a
solicitation of an offer to buy any of the Company's securities in
the United States. The securities have not been and will not
be registered under the United States Securities Act of 1933, as
amended (the "1933 Act"), or any state securities laws and may not
be offered or sold within the United
States or to U.S. persons unless registered under the 1933
Act and applicable state securities laws, or an exemption from such
registration is available.
SOURCE Terrace Energy Corp.