Terrace Energy Corp. (the 'Company') (TSXV: TZR) and Salvation Nutraceuticals Inc. ('Salvation') have mutually agreed to terminate the letter of intent previously announced on September 2, 2022 for a proposed business combination whereby the Company would have acquired 100% of the outstanding securities of Salvation in exchange for common shares of the Company The Company will request that trading in its shares be resumed.

This press release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the 'U.S. Securities Act') or any state securities laws and may not be offered or sold within the United States or to or for the account or benefit of U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available

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