Core Viewpoint - Terra Balcanica Resources Corp. plans to spin out its Canadian uranium assets into a wholly-owned subsidiary, Terra North Resources Corp., to enhance focus on exploration and unlock shareholder value [1][4]. Group 1: Spin-Out Transaction Details - The spin-out transaction will involve transferring Terra's 591 km Saskatchewan uranium portfolio, including the Charlot–Neely Lake claim cluster, to Terra North in exchange for 15,000,000 common shares of Terra North [5]. - Terra North will engage Dahrouge Consulting Inc. to complete a NI 43-101 compliant technical report on the Charlot–Neely Lake property to support the spin-out and anticipated CSE listing [2]. - The completion of the spin-out is subject to shareholder approval, CSE approval, and compliance with applicable securities and corporate law requirements [3]. Group 2: Financial and Operational Plans - Terra North will conduct private placement financings to fund a $2 million exploration program in 2026, which will include multiple geophysical surveys and follow-up fieldwork [4][5]. - A portion of the Terra North shares will be distributed to its shareholders on a pro rata basis as a return of capital [5]. - Terra North aims to list its common shares on the Canadian Securities Exchange, targeting a listing in Q2 2026, pending regulatory approvals [5]. Group 3: Company Overview - Terra Balcanica is focused on polymetallic and energy metals exploration, targeting large-scale mineral systems in the Balkans and northern Saskatchewan, Canada [6]. - The company holds a 90% interest in the Viogor-Zanik Project in Bosnia and has a 100% optioned portfolio of uranium-prospective licenses in the Athabasca basin [6].