Terra Nostra Expands Board of Directors and Audit Committee
04 December 2007 - 3:00AM
PR Newswire (US)
LOS ANGELES and ZIBO, China, Dec. 3 /PRNewswire-FirstCall/ -- Terra
Nostra Resources Corporation (OTC:TNRO) (BULLETIN BOARD: TNRO) is
pleased to announce the appointment of Mr. Michel Plante as an
independent member of its board of directors and Company audit
committee. Mr. Plante has over 25 years of experience as a
Chartered Accountant (CA), financial advisor, public company
corporate officer and director. He is presently the Chief
Administrative Officer of Groupe Cabico, a privately-held leading
Canadian manufacturer of high-end custom cabinetry for kitchen and
bathrooms. Mr. Plante is also currently Chairman of the board of
directors of College Laval, a privately-held secondary education
institution, a director of Green Yeast Corporation, a company
trading on the Over-the-Counter Bulletin Board, and Capital
Maniwaki Inc., a company in the process of being listed on the TSX
Venture Exchange. Until June 2007, Mr. Plante served as the
Vice-President Finance and Chief Financial Officer of Roctest
Limited, a company trading on the Toronto Stock Exchange. In
addition to his financial duties, Michel also acted as Corporate
Secretary responsible for corporate governance, including
coordination of the audit committee to ensure proper governance
adherence. Previously, Mr. Plante worked as a Chartered Accountant
with Coopers & Lybrand and held several financial management
positions with various high tech organizations. Mr. Plante earned
his Bachelor of Commerce degree (1980) from McGill University and
became a Chartered Accountant (1982) through the Canadian Institute
of Chartered Accountants. "The addition of Michel as an independent
member of our board of directors and audit committee is another
step forward for the Company as we further increase our standing in
the global investment community", stated Don Nicholson, the
Company's President. "We are certain that Michel's strong
accounting background and experience with multi-national
corporations will make him a valuable addition to the overall Terra
Nostra team". About Terra Nostra Resources Corporation Terra Nostra
is a leading copper and stainless steel producer in China through
its 51% majority interests in two joint venture companies in China.
Shandong Terra Nostra Jinpeng Metallurgical Co., Ltd. has an
existing and under construction total production capacity of
170,000 MT of electrolytic copper and 20,000 MT of low-oxygen
copper, together with value-added copper rod and wire capabilities.
Shandong Quanxin Stainless Steel Co., Ltd. operates a modern
stainless steel production facility with a 230,000 MT capacity
casting mill, and a 150,000 MT rolling mill. The two joint venture
companies, with total assets in excess of US$180 million and over
1,000 employees, are located in the highly industrialized coastal
province of Shandong, midway between Beijing and Shanghai. Terra
Nostra has entered into an agreement to increase its majority
ownership in both joint ventures from 51% to 90%, and this
transaction is expected to be completed in December 2007. More
information on Terra Nostra can be found at
http://www.tnr-corp.com/. Investor Contact: Mercantile Ascendency,
Tom Collins, (214) 559 9885 Forward Looking Statements Except for
the historical information contained herein, the matters set forth
in this press release, including statements with respect to
expectations concerning (i) projects underway or under
consideration, including production capacity and completion
schedules; (ii) business and future potential of Terra Nostra
Resources Corporation ("TNRO"); (iii) estimates or implications of
future earnings, profits, EBITDA, and the sensitivity of earnings
to metals prices; (iv) estimates of future metals production, sales
and profitability; (v) estimates of future cash flows, and the
sensitivity of cash flows to the other metals and ore costs as well
as, but not limited to, fluctuations in fuel prices, scrap prices,
and the availability of both, and statements related to these
matters or which use words such as "may," "might," "should,"
"expect," "plan," "anticipate," "believe," "estimate," "predict,"
"potential" or "continue," and the negative of these terms and
other comparable terminology are all forward-looking statements
within the meaning of the "safe harbor" provisions of the Private
Securities Litigation Reform Act of 1995. Further risks,
uncertainties and other factors, which affect the forward- looking
statements included herein, and could cause actual results to
differ materially from future results expressed, projected or
implied by such forward-looking statements include, but are not
limited to, completion of TNRO's capital contributions to the joint
venture companies, working capital financing, metals price
volatility, competition for projects, reserve acquisition costs,
currency fluctuations, international economic uncertainty,
sovereign risk, force majeure, changes in tax law or concession
law, project scheduling delays, labor disputes, increased
production costs and variances in ore grade, scrap grade or
recovery rates from those assumed in production plans, political
and operational risks in the countries in which TNR may operate and
governmental regulation and judicial outcomes, and other risks
detailed from time to time in TNRO's filings with the Securities
and Exchange Commission, including its Quarterly Report on Form
10-QSB for the year ended August, 31, 2007. Copies of each filing
may be obtained from TNRO or the SEC. Furthermore, metals
operation, by their very nature, entail inherent cyclical,
sectoral, and commodity risk and could expose an investor to the
entire loss of all capital invested. TNRO does not undertake any
obligation to publicly release any revisions to any forward-looking
statements to reflect events or circumstances after the date of
this release or to reflect the occurrence of unanticipated events,
except as may be required under applicable securities laws.
DATASOURCE: Terra Nostra Resources Corporation CONTACT: Investor
Contact, Tom Collins of Mercantile Ascendency, +1-214-559-9885, for
Terra Nostra Resources Corporation Web site:
http://www.tnr-corp.com/
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