Terrace Global Inc. (TSXV:TRCE) announced on September 9, 2020 that it has closed the previously announced non-brokered private placement (the “Private Placement”) of 120,000,000 subscription receipts (the “Subscription Receipts”) at an issue price of $0.125 per Subscription Receipt (the “Issue Price”) for aggregate gross proceeds of $15,000,000. “We are extremely pleased to be able to close this Private Placement which significantly bolsters our balance sheet. At a time when many of our peers are operating with constrained capital resources, we are in the fortunate position of having significant cash on our balance sheet without any debt,” commented Francisco Ortiz von Bismarck, Chief Executive Officer of the Corporation. “These additional funds will allow us to seek out additional strategic partners and pursue strategic alternatives that we believe will result in significant shareholder value”.