Terrace Announces Completion of Note Exchange
Vancouver, BC May 13, 2016 – Terrace Energy Corp. (the "Company" or "Terrace") (TSXV: TZR, OTCQX: TCRRF; Germany: 2TR) is pleased to announce that, further to its press release dated May 11, 2016, it has completed its previously announced plan of arrangement (the "Arrangement"), pursuant to which all of the Company's outstanding 8% convertible unsecured notes due April 2, 2018 have been exchanged for new convertible secured notes due April 2, 2021 (the "New Notes").
The New Notes will be listed for trading on the TSX Venture Exchange on May 17, 2016 under the ticker symbol "TZR.DB".
For further information regarding the New Notes, please refer to the Company's management information circular dated April 8, 2016, a copy of which is available under the Company's profile on SEDAR at www.sedar.com and the terms of the indenture underlying the New Notes.
Terrace is an oil & gas development stage company that is focused on unconventional oil extraction in onshore areas of the United States with a particular focus on South Texas.
ON BEHALF OF THE BOARD OF DIRECTORS
Dave Gibbs, President and Chief Executive Officer
For further information please contact: firstname.lastname@example.org
P.O. Box 21546
1424 Commercial Drive
Vancouver B.C. V5L 5G2
Ph: 604 282-7897
Fax: 604 629 0418
Suite 407-202 Travis Street,
Houston Texas 77002
Ph: 713 227 0010
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.