Terra Clean Energy Corp. (CSE: TCEC; OTCQB: TCEFF; FSE: C9O0) has closed an oversubscribed private placement totaling CAD 2.43 million, exceeding its initial target. The offering was led by Centurion One Capital, acting as lead agent and anchor investor, assembling a group of long-term oriented shareholders.
The proceeds will fund the already-permitted work program at the Marysvale Uranium Mines Project in Utah, one of the region’s most historically significant and promising mineral properties. The operational plan includes the construction of five drill pads, the excavation of seven exploration trenches, and preparations for a 10,000-foot core drilling program. Field crews were already set to mobilize in the final week of September. A remaining portion of the funds is earmarked for general working capital purposes.
The placement involved the issuance of more than 17.3 million units at CAD 0.14 per unit. Each unit comprises one common share and one warrant exercisable at CAD 0.22 over a three-year period, with an acceleration clause tied to share price performance. Centurion One received cash commissions and agent warrants. Participation by certain insiders was structured in compliance with Canadian related-party transaction rules, without requiring minority shareholder approval.
Terra Clean Energy is a Canadian uranium exploration and development company with a multi-jurisdiction portfolio. In addition to the Marysvale project, the company is advancing South Falcon East in Saskatchewan’s Athabasca Basin region and holds exploration properties in Wyoming. The company’s stated strategy focuses on advancing near-development-stage projects to meet growing nuclear energy demand and strengthen domestic mineral supply chains.
CEO Greg Cameron highlighted that the oversubscribed offering reflects investor confidence in both the Utah project and the company’s overall strategic direction. The uranium market—driven by the global push for low-carbon energy sources and rising electricity demand from nuclear-powered data centers—continues to attract capital even toward smaller operators. For Terra Clean Energy, completing the Marysvale drilling program will be the decisive test: core drilling results will determine whether the site’s historical resources can be converted into economically viable reserves, and whether the investment made over recent months will ultimately hold up against the realities underground.
