Quaterra Finalizes Sale of Uranium Assets
17 March 2014 - 11:35PM
Marketwired
Quaterra Finalizes Sale of Uranium Assets
Transaction Will Free Up Time to Focus on Yerington Properties
and Provide Working Capital
VANCOUVER, BRITISH COLUMBIA--(Marketwired - Mar 17, 2014) -
Quaterra Resources Inc. (TSX-VENTURE:QTQ)(OTCQX:QTRRF) today
announced that it has closed a transaction to sell its uranium
properties and assets located in the states of Arizona, Utah and
Wyoming for Cdn $500,000.
The all-cash transaction, previously announced in a March 4,
2014 press release, closed on March 14, 2014, with the payment of
funds to Quaterra. The sale has obtained regulatory approval.
The transaction provides working capital and will free-up time
and resources for the Company to focus on its Yerington district
copper properties.
About Quaterra Resources, Inc.
Quaterra Resources Inc. (TSX-VENTURE:QTA)(OTCQX:QTRRF) is a
junior exploration and development company with a successful track
record of making significant mineral discoveries in North America.
The Company's primary objective is the advancement of its flagship
projects in the Yerington copper district, Nevada. The monetization
of non-core assets is in progress to accelerate this effort.
On behalf of the Board of Directors,
Steven Dischler, President & CEO
Quaterra Resources Inc.
Disclosure note:
Some statements contained in this news release are
forward-looking statements under Canadian securities laws and
within the safe harbor of the U.S. Private Securities Litigation
Reform Act of 1995. These statements generally are identified by
words such as the Company "believes", "expects", and similar
language, or convey estimates and statements that describe the
Company's future plans, objectives or goals. Since forward-looking
statements are based on assumptions and address future events and
conditions, by their very nature they involve inherent risks and
uncertainties. Assumptions include that the transaction will
free-up time and resources for the Company to focus on its
Yerington-district copper properties and that the monetization of
non-core assets will accelerate the Company's efforts to advance
its flagship projects in the Yerington copper district, Nevada.
Further information regarding risks and uncertainties which may
cause results to differ materially from those projected in
forward-looking statements, are included in filings by the Company
with securities regulatory authorities. Readers are cautioned not
to place undue reliance on forward-looking statements, which speak
only as of the date thereof. The Company does not undertake to
update any forward-looking statement that may be made from time to
time except in accordance with applicable securities laws.
References may be made in this press release to historic mineral
resource estimates. None of these are NI 43-101 compliant and a
qualified person has not done sufficient work to classify these
historic estimates as a current mineral resource. They should not
be relied upon and Quaterra does not treat them as current mineral
resources.
Neither TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in policies of the TSX Venture
Exchange) accepts responsibility for the adequacy or accuracy of
this release.
Quaterra Resources Inc.Mr. Steven DischlerPresident &
CEO775-463-9600
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