Terrane Receives Final Court Order for Transaction With Thompson Creek
27 September 2010 - 11:00PM
Marketwired
Robert Pease, President and CEO of Terrane Metals Corp. ("Terrane"
or the "Company") (TSX VENTURE: TRX), is pleased to announce that
the Supreme Court of British Columbia has issued a final order
approving the plan of arrangement (the "Arrangement") involving
Terrane and Thompson Creek Metals Company Inc. ("Thompson Creek").
The Arrangement provides for the acquisition of Terrane by Thompson
Creek, and under the terms of the Arrangement, Terrane shareholders
will receive C$0.90 in cash and 0.052 of a Thompson Creek share per
Terrane share.
Completion of the Arrangement is subject to customary regulatory
consents and other approvals. The completion of the Arrangement is
expected to occur in early October 2010.
Further details regarding the Arrangement are set out in
Terrane's Notice of Special Meeting and Management Information
Circular dated August 23, 2010, which is available at
www.sedar.com.
ABOUT TERRANE METALS CORP.
Terrane Metals Corp. is an exploration and mine development
company focused on the development of the Mt. Milligan copper-gold
and Berg copper-molybdenum-silver projects in British Columbia,
Canada. Goldcorp Inc. (GG: NYSE; G: TSX) owns a 52.4% equity
interest in Terrane on a fully diluted basis.
TERRANE METALS CORP.
Signed "Robert Pease"
Robert Pease, P.Geo, FGAC, President and CEO
Cautionary Note Regarding Forward-Looking Statements
Except for the statements of historical fact contained herein,
the information presented in this News Release constitutes
"forward-looking statements" or "forward-looking information"
within the meaning of Canadian securities legislation (together
referred to as "forward-looking statements"). These statements
relate to the expected date of completion of the Arrangement. Such
statements were based upon certain assumptions made by the Company
with respect to the expected timeline for receipt of outstanding
consents and approvals. The forward-looking statements are subject
to risks, uncertainties and other factors that may cause actual
results to be materially different from those expressed or implied
by such forward-looking statements, including any delays in the
receipt of consents or approvals. Although the Company has
attempted to identify important factors that could cause actual
actions, events or results to differ materially from those
described in forward-looking statements, there may be other factors
that cause actions, events or results not to be as anticipated,
estimated or intended. There can be no assurance that such
statements will prove to be accurate as actual results and future
events could differ materially from those anticipated in such
statements. Accordingly, readers should not place undue reliance on
forward-looking statements contained in this News Release and in
any document referred to in this News Release.
Forward-looking statements are made based on management's
beliefs, estimates and opinions on the date the statements are made
and the Company undertakes no obligation to update forward-looking
statements if these beliefs, estimates and opinions or other
circumstances should change, except as required by applicable
law.
The TSX Venture Exchange does not accept responsibility for the
adequacy or accuracy of this release.
Contacts: Terrane Metals Corp. Darin Labrenz (604) 681 9930
www.terranemetals.com
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