Swander Pace Capital Announces Internal Promotions
Alex Litt has been promoted to Managing Director. Alex joined SPC in 2013 and worked with 14 portfolio companies during his time at SPC. He is a member of the Investment Committee and currently serves on the boards of Fine Choice Foods, Captek, Mommy's Bliss, and Swanson Health Products and previously served on the boards of T-Bev, Functional Formularies, and Reliance Holdings. Prior to SPC, Alex worked at Houlihan Lokey in New York, where he focused on middle-market merger and acquisition transactions in the Consumer Products and Health and Wellness categories. Alex graduated from Vanderbilt University with a B.A. in Economics and a minor in Financial Economics and Corporate Finance.
Scott Kania has been promoted to Director - Portfolio Operations. Scott has been dedicated to value creation at SPC portfolio companies since 2016 with a focus on finance/tax, operations, IT, liquidity, and special situations. Scott currently serves as interim CFO of SPC portfolio company Captek and previously served as interim CFO of Cafe Valley, Mommy's Bliss, Max Solutions, TBEV, Passport Food Group, HALO/Aden & Anais, and Reliance Vitamin. Prior to SPC, Scott worked as CFO for a single-family office that invested across a broad range of industries and investment profiles. Scott received his BA in Economics/Accounting from College of the Holy Cross.
Mike Merriman has been promoted to Senior Vice President. Mike joined SPC in 2016, currently serves on the boards of Fine Choice Foods, Oregon Ice Cream, and St. Methode, and previously served on the boards of Backerhaus Veit and HALO/Aden & Anais. Prior to joining SPC, Mike worked as an Investment Banking Analyst at Sawaya Partners, where he focused on CPG middle-market merger and acquisition transactions. Prior to that he was an Associate in the Healthcare Leveraged Finance Group at GE Capital. Mike received a BS in Finance from Fairfield University.
About Swander Pace Capital
Swander Pace Capital (SPC) is a private equity firm that invests in companies that are integral to consumers' lives. SPC's consumer industry experience informs the firm's strategic approach and seeks to add value through access to its SPC Playbook, senior team, and extensive network. The firm partners with management teams to help build companies to their full potential. SPC invests in businesses across two key domains of consumer lifestyles: Food and Beverage and Health and Wellness. With offices in California and New Jersey, SPC has invested in approximately 65 platform companies and raised cumulative equity commitments of approximately $2.2 billion since 1996. For more information, visit www.spcap.com.
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Vancouver, British Columbia, Aug. 18, 2025 (GLOBE NEWSWIRE) — Terra Balcanica Resources Corp. ('Terra' or the 'Company') (CSE:TERA; FRA: UB1) is pleased to announce an expansion of the surface gold skarn system at Brezani and the start of the Phase III drill program at its Viogor-Zanik project, Bosnia and Herzegovina. Highlights The Brezani drillhole BRE23001 located 125 m SSW of the maiden Brezani drillhole intercepted 0.27 g/t Au over 72.3 m including 0.62 g/t Au over 7.5 m. Additionally, two antimony veined zones, 1.5 and 0.5 m wide were intersected, respectively (Figure 2); The drillhole BRE23002 located 145 m northwest of BRE23001 intercepted 1.51 Zn% over 6 m including 0.54% Sb over 1.65 m as well as 0.6 g/t Au over 2.85 m; The drillhole BRE23003 located 77 m southeast of the maiden Brezani drillhole encountered 0.19% Sb over 2.0 m as well as 0.6 g/t Au over 2.85 m; The drillhole BRE23004 located 92 m NNW of the maiden Brezani drillhole intercepted 0.62 g/t Au over 11.8 m including 1.03 g/t Au over 6.65 m; Exploration upside: Au-bearing, retrograde, chlorite overprinted skarn at Brezani has been now confirmed over 200 m in the N-S direction as it overlies the SE extent of the 1.2 km, NE-shallowing conductor interpreted to be Sb-Ag-Zn mineralized. The maiden Brezani drillhole BREDD002 intercepted 0.61 g/t AuEq over 88.0 m from surface (see Company news release from January 24th, 2023); Terra Balcanica's CEO, Dr. Aleksandar (Alex) Miskovic, commented: 'We are pleased to have expanded the gold footprint at Brezani. The Au bearing metasomatized hornfels intercepted from surface at BREDD002 three years ago were not just a one-off as the follow up drilling clearly suggests a skarn with the gold mineralization over 200 m laterally. Being close to the surface, this is a considerable value add at Brezani given the NE-shallowing, 20 m wide, fault hosted silver antimony horizon which is the real focus of the current Phase III drill program.' Brezani is located 8.4 km south of the Mineco Ltd. Sase Mine which produces approximately 330 kt of lead-zinc-silver-gold concentrate per year (Figure 1). The target hosts components of a large magmatic-hydrothermal system discovered by airobrne TEM-magnetic and geochemical surveys. The BRE23001 through 23004 diamond drill holes are located within the Au-in-soil anomaly and were intended to assess lithological variability and grade of the Au skarn along strike. Additionally, the drillholes tested the resistive volume above an abrupt change into a central magnetic low shell within the general >95th percentile magnetic high anomaly to verify the lateral extent of 0.61 g/t Au Eq. In the central BREDD002 (Figure 3). Drill Results Drillhole From (m) To (m) Length (m) Au (g/t) Ag (g/t) Sb (%) Zn (%) BRE23001 22.0 94.3 72.3 0.27 Including 32.0 39.5 7.5 0.62 Including 47.0 48.5 1.5 0.27 Including 77.3 77.8 0.5 0.53 BRE23002 98.05 104.1 6.0 17.6 1.51 Including 98.05 99.7 1.65 0.54 BRE23002 104.65 107.5 2.85 0.60 BRE23002 110.5 111.4 0.9 1.06 BRE23003 52.7 54.7 2.0 0.19 BRE23004 9.8 21.6 11.8 0.62 Including 11.7 18.3 6.65 1.03 BRE23004 38.7 51.9 13.2 0.19 BRE23004 102.0 103.5 1.45 0.39 Table 1. Assay results of key mineralized intervals for diamond drillholes BRE23001 through BREDD004. Interval lengths reported are drilled lengths and not true widths. Please click to view image Figure 1. The Bosnian Viogor-Zanik project with the Brezani skarn system to SE of the Sase mine. Please click to view image Figure 2. Satelite plain view of the four drill holes at Brezani correlateting to the Au surface hail from soil geochemisry. Hole ID Easting Northing Elevation Dip Azimuth Depth (m) Recovery (%) BRE23001 368453 4879916 845.87 -80 336 120.8 94.16 BRE23002 368358 4880043 852.74 -80 336 156.7 98.6 BRE23003 368504 4879974 868.05 -80 336 123.2 97.16 BRE23004 368442 4880119 902.40 -80 336 145.2 97.16 Table 2. Collar location and core recoveries for diamond drillholes BREDD001 and BREDD002 (UTM; WGS84). The BRE 23001 drillhole was initially characterized by mudstone with patchy calc-silicate alteration and disseminated and vein-hosted pyrite-pyrrhotite followed by calc-silicate hornfels with pyroxene veining and disseminated and quartz veinlet hosted chalcopyrite, pyrite and pyrrhotite (Figure 4). Medium grained garnet dominant exoskarn mineralogy is noted adjacent to chlorite-sericite altered diorite intrusives that have been altered to endoskarn with garnet and pyroxene. A gradient from garnet to pyroxene skarn can be observed in BRE23001 with movement away from the intrusive contact. Epithermal quartz-carbonate veining with arsenopyrite, and stibnite was observed as well. There was notably more intrusive within the shallow part of BRE23001 than BREDD002. Quartz veins are crosscut by later pyrite and then carbonate-sulphide veins which create a strong chlorite vein selvage, commonly with pyrrhotite. Please click to view image Figure 3. Conductivity-magnetic profile of the Brezani target looking NE. The four drill holes tested the resistive volume above an abrupt change into a central magnetic low shell (tirquoise blue) within the general >95th percentile magnetic high anomaly to verify the lateral extent of 0.61 g/t Au Eq. over 88 m from surface reported in the 674 m deep, central BREDD002. The BRE23004 intersected 8 meters of exo-skarn/calc-silicate (9.5m – 19.5m) with small intervals of intrusive adding up to around 2 meters. The altered rock may not strictly be a skarn as the grain size is not coarse. The mineral banding is very well developed and is larger grained on the whole that our classic calc-silicate. The banding appears to follow relict bedding and tectonic folding. The skarn mineralogy contains: pyroxene-garnet-wollastonite-calcite-actinolite-chlorite-epidote. There appears to be zonation with the upper part containing more light brown garnet bands and the lower part more dominant in blue pyroxene. An example of a similarly altered, blue pyroxene skarn interval returned up to 2.7g/t gold in BREDD002 from 37m to 38m. The intrusive appears to be sillicified possibly overprinting potassic with some sections altered to endoskarn. From 19.5m to 29m is exoskarn/calc-silicate dominant with small intervals of porphyry with some intervals altered to exoskarn. Banding within the skarn is nicely well developed and similar to previous intervals. Please click to view image Please click to view image Figure 4. left) Garnet skarn in contact with chlorite-sericite altered diorite intrusion. Veinlets of pyrrhotite-sphalerite are observed adjacent to the contact. The skarn is retrograde (chlorite-epidote) altered; right) Phyllic altered, plagioclase phyric diorite with quartz-molybdenite veining and crosscutting calcite-arsenopyrite-sphalerite veinlets. Phase III Drilling The 2025 drill program is a folow up onto the discovery made by the drill hole BREDD002 which intercepted ca. 20 m of intermediate sulfidation, base metal-rich, fault-breccia hosted Ag-Sb-Zn mineralization grading upwards of 436 g/t Ag Eq. which was previously detected via the 2021 heliborne TEM survey. The EM study revealed a 1.2 km long conductor shallowing towards northeast and eventually surfacing at the topographic high of the Brezani locality. The mineralogical textures form the initial intercept pierced through the ore zone suggest a stratigraphic level that is apparently below the so-called 'boiling zone' thus offering potential upside should one be intercepted updip during the current drill program. The lateral extent of the 17 degree dipping conductor interpreted as the Sb-Ag-Zn mineralization is 1.2 km in length, up to 600 m in width and 20 m thick as observed in BREDD002 offering a massive potential for a large tonnage ore body which is the goal of this year's campaign. The company's field team expressly built six drill pads on a challenging and steep terrane and the drilling has sommenced in earnest last Friday (Figure 5). Terra expects to comlete the first diamond drill hole by the end of Augist, 2025 with the laboratory assays in hand by mid to late September, 2025. A total of 2,100 m of drilling is planned with a possibility of increasing the program should intercepts justify further testing. Please click to view image Figure 5. Drill pad BRE23005 with the rig oriented at 345 azimuth and inclined at 70° to surface testing the deep conductor interpreted to be the previously intercepted Sb-Ag-Zn mineralization. QA/QC Half core (PQ3 and HQ3) samples were delivered to ALS Bor, Serbia for sample preparation and subsequent wet chemical analysis at the Loughrea laboratory in Ireland, an ISO/IEC 17025:2017 certified test facility. Sample preparation PREP-31BY method involved crushing the core to 70% less than 2 mm, rotary split 1.0 kg and pulverizing the split to greater than 85% passing 75 microns. Silver and base metals were analysed by ICP MS after a four-acid digest (ME-MS61). Gold was assayed by 30g fire assay with ICP AES finish (Au-ICP21). Over limit samples for base metals were re-analysed by the four-acid digest ICP-AES analyses termed ME-OG62. Control samples comprising the certified reference material CDN-ME-1501 (Canadian Resource Labs Ltd.), quarter core field duplicates and blanks were inserted at a rate of 5% and investigated as part of the Company's quality assurance and quality control program. Qualified Person Dr. Aleksandar Mišković, is the Company's designated Qualified Person for this news release within the meaning of National Instrument 43-101 Standards of Disclosure of Mineral Projects ('NI 43-101'). Dr. Mišković has reviewed and validated the information contained in this news release as factual and accurate. About the Company Terra Balcanica is a polymetallic and energy metals exploration company targeting large-scale mineral systems in the Balkans of southeastern Europe and norther Saskatchewan, Canada. The Company has 90% interest in the Viogor-Zanik Project in eastern Bosnia and Herzegovina. The Canadian assets comprise a 100% optioned portfolio of uranium-prospective licences at the outskirts of the world-renowned Athabasca basin: Charlot-Neely Lake, Fontaine Lake, Snowbird, and South Pendleton. The Company emphasizes responsible engagement with local communities and stakeholders. It is committed to proactively implementing Good International Industry Practice (GIIP) and sustainable health, safety, and environmental management. ON BEHALF OF THE BOARD OF DIRECTORS Terra Balcanica Resources Corp. Aleksandar Mišković President and CEO For further information, please contact Aleksandar Mišković at [email protected] , or visit our website at . Cautionary Statement This news release contains certain forward-looking information and forward-looking statements within the meaning of applicable securities legislation (collectively 'forward-looking statements'). The use of any of the words 'will', 'intends' and similar expressions are intended to identify forward-looking statements. These statements involve known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking statements. Such forward-looking statements should not be unduly relied upon. Actual results achieved may vary from the information provided herein as a result of numerous known and unknown risks and uncertainties and other factors. The Company believes the expectations reflected in those forward-looking statements are reasonable, but no assurance can be given that these expectations will prove to be correct. The Company does not undertake to update these forward-looking statements, except as required by law. Disclaimer: The above press release comes to you under an arrangement with GlobeNewswire. Business Upturn takes no editorial responsibility for the same. Ahmedabad Plane Crash
