Terra Uranium raised $500,000 through a premium placement at 16 cents per share, targeting sophisticated investors.

The funds will primarily fuel the acquisition of the 15,300,000lb U308 Amer Lake Uranium Project and support general working capital needs.

Situated 20km north of the operational Amaruq Gold Project, Amer Lake shows uranium potential, with assay values ranging from 5000 to 15,000 ppm U3O8.