Pure Hydrogen Corp. Ltd. (PHCLF)

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Looks like Terrace is investing in Maverick.

Terrace completes CDN$20,017,000 equity financing
V.TZR | 6 hours ago

/NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES/

VANCOUVER, July 23, 2014 /CNW/ - Terrace Energy Corp. (the "Company") (TSXV: TZR, OTCQX: TCRRF; FRANKFURT: 2TR) is pleased to announce it has completed its bought deal public offering of 10,820,000 common shares at a price of CDN$1.85 per share for gross proceeds of CDN$20,017,000 under the Company's short-form prospectus dated July 17, 2014 (the "Prospectus").

Canaccord Genuity Corp. acted as lead underwriter on behalf of a syndicate of underwriters comprising Canaccord, Cormark Securities Inc., GMP Securities LP, and Salman Partners Inc. The underwriters received a cash commission equal to 6.5% of the gross proceeds of the offering.

The Company plans to use the net proceeds from the offering towards exploration and evaluation work on its Maverick County, Big Wells and Northwest AWP projects, as disclosed in the Prospectus.

The underwriters have an over-allotment option to purchase, for a period of 30 days following the closing of the offering today, up to an additional 1,623,000 common shares of the Company at a price of CDN$1.85 to cover over-allotments. Further details are contained in the Prospectus.

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.

Read more at http://www.stockhouse.com/news/press-releases/2014/07/23/terrace-completes-cdn-20-017-000-equity-financing#1mdPBhUjmAOFtZ4l.99