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

2012 news releases

Terrace Closes $10 M Private Placement

Vancouver, BC, May 9, 2012 – Terrace Energy Corp. (TSXV: TZR, the “Company”) announces the closing of the non-brokered private placement announced on May 2, 2012.  A total of 10 million shares were issued for $1.00 per share, raising aggregate gross proceeds of $10 million.  No commissions or finders’ fees were paid by the Company in respect of the private placement.

The shares are subject to a hold period and may not be traded until September 9, 2012 except as permitted by applicable securities legislation and the rules and policies of the TSX Venture Exchange. 

About Terrace Energy

Terrace Energy is an oil & gas development stage company that is focused on unconventional oil extraction in onshore areas of the United States.  It currently has two principal properties situated in Texas with targets in the "Olmos" and "Eagle Ford" formations.

 

APPROVED BY THE BOARD OF DIRECTORS

“Eric Boehnke”

Eric Boehnke, Chief Executive Officer

 

For further information please contact:

Murray Oliver, Director

Terrace Energy Corp.

info@terraceenergy.net

604-687-0888

 

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.