TERRA ANNOUNCES FINAL COURT APPROVAL OF ARRANGEMENT
(firmenpresse) -
TERRA ANNOUNCES FINAL COURT APPROVAL OF ARRANGEMENT
VANCOUVER, June 7, 2010 – Terra Ventures Inc. (the “Company”) announced today that it obtained the final court order in connection with the previously announced plan of arrangement (the “Arrangement”) involving the Company and Terrex Energy Inc. (“Terrex”), a wholly-owned subsidiary of the Company, under section 288 of the Business Corporations Act (British Columbia). At a special meeting of shareholders held on June 4, 2010, Terra’s shareholders overwhelmingly approved the Arrangement with approximately 99.5% of the votes cast by holders of common shares of the Company voted in favour of the Arrangement.
The completion of the Arrangement is scheduled to occur on June 11, 2010, with all holders of Terrex common shares and share purchase warrants as of June 9, 2010 receiving securities of Terrex pursuant to the Arrangement.
Terrex was incorporated for the purpose of acquiring oil and gas properties, the first of which is an oil property in Alberta, known as the Strathmore Property. Pursuant to the Arrangement, the Company will reorganize its present operations into two separate public companies, the Company and Terrex. Upon completion of the Arrangement, the shareholders of the Company (other than shareholders who dissent to the Arrangement) will own common shares both in the capital of the Company and in the capital of Terrex, and the warrant holders of the Company will own warrants of both the Company and Terrex.
It is expected that the Terrex common shares will be listed on the TSX Venture Exchange on June 23, 2010, subject to satisfaction of the TSX Venture Exchange’s listing requirements.
For further particulars about the Company, please contact Gunther Roehlig, President, at 1-866-683-0911 or visit the Company’s website at www.terrauranium.com.
On behalf of the board of directors of
TERRA VENTURES, INC
“Gunther Roehlig”
Gunther Roehlig, President
About the Companies
Terra Ventures Inc. is a Vancouver, British Columbia based junior exploration company focused principally on acquiring and developing quality uranium projects which have world class potential. The Company is dedicated to building shareholder value by acquiring strategic uranium properties in this period of strengthening global demand for uranium supply. The Company’s combination of strategic land positions, advanced stage projects and no risk carried interest projects – combined with technical expertise and management’s fundraising ability – are the foundation for growth in the uranium business. The Company’s common shares are listed and trade on the TSX Venture Exchange under the trading symbol "TAS".
Terrex Energy Inc. is a newly formed Calgary, Alberta based company engaged in the exploration for, and development and production of petroleum and natural gas in the Western Canadian Sedimentary Basin. Terrex is primarily focused on a strategy of growing reserves and production through applying proven, improved and enhanced oil recovery technologies to existing under-exploited, large original oil in-place medium and light oil reservoirs.
For further information please contact Kim Davies, President & CEO or Norm Knecht, VP Finance & CFO at (403 ) 264-4430 or visit Terrex’s website at www.terrexenergy.ca.
Neither the TSX Venture Exchange nor its regulation services provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.
This News Release contains forward-looking statements. Forward-looking statements are statements which relate to future events. In some cases, you can identify forward-looking statements by terminology such as “may”, “should”, “expects”, “plans”, “anticipates”, “believes”, “estimates”, “predicts”, “potential” or “continue” or the negative of these terms or other comparable terminology. These statements are only predictions and involve known and unknown risks, uncertainties and other factors that may cause our or our industry’s actual results, levels of activity, performance or achievements to be materially different from any future results, levels of activity, performance or achievements expressed or implied by these forward-looking statements. While these forward-looking statements, and any assumptions upon which they are based, are made in good faith and reflect our current judgment regarding the direction of our business, actual results will almost always vary, sometimes materially, from any estimates, predictions, projections, assumptions or other future performance suggested herein. Except as required by applicable law, the Company does not intend to update any of the forward-looking statements to conform these statements to actual results.
Leseranfragen:
TERRA VENTURES
1750-999 West Hastings
Vancouver, BC V6C 2W2
1-866-683-0911 (toll free)
Fax: 1.604.683.7161
Datum: 08.06.2010 - 12:25 Uhr
Sprache: Deutsch
News-ID 22091
Anzahl Zeichen: 0
contact information:
Town:
Wien
Kategorie:
Business News
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