TSX-V TZR.V last: 0.02 vol: 5000 OTCQX TCRRF last: 0.02 vol: 500

2012 news releases

Terrace Announces Private Placement

Vancouver, BC, May 2, 2012 – Terrace Energy Corp. (TSXV: TZR, the “Company”) announces that it has received subscriptions for a non-brokered private placement of 10 million shares at a price of $1.00 per share for aggregate gross proceeds of $10,000,000.  The Company expects to close the private placement upon receipt of acceptance from the TSX Venture Exchange.

No commission or finders’ fee will be payable by the Company in respect of the private placement.
The proceeds of the private placement will be used to fund current financial commitments and for general working capital purposes.   

APPROVED BY THE BOARD OF DIRECTORS
“Eric Boehnke”
Eric Boehnke, C.E.O

For further information please contact:
Murray Oliver, Director
Terrace Energy Corp.
info@terraceenergy.net
604-687-0888

Not for dissemination in the United States

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.