Thompson Creek Completes Acquisition of Terrane
21 October 2010 - 4:00AM
Marketwired
Robert Pease, President and CEO of Terrane Metals Corp. ("Terrane"
or the "Company") (TSX VENTURE: TRX), is pleased to announce that
Thompson Creek Metals Company Inc. ("Thompson Creek") (TSX:
TCM)(NYSE: TC) and has completed its acquisition of Terrane
effective October 20, 2010, by way of Plan of Arrangement (the
"Arrangement"). Pursuant to the terms of the Arrangement, Terrane
shareholders are entitled to receive C$0.90 in cash and 0.052 of a
Thompson Creek share per Terrane share.
Terrane shareholders who have questions or require more
information with respect to the Arrangement, the payment of the
cash consideration or the receipt of Thompson Creek shares should
contact:
Equity Transfer & Trust Company
200 University Avenue, Suite 400
Toronto, Ontario M5H 4H1
Tel: (416) 361-0152 Fax: (416) 361-0470
Email: investor@equityfinancialtrust.com
Further details regarding the terms of the Arrangement are set
out in Terrane's Notice of Special Meeting and Management
Information Circular dated August 23, 2010, which is available on
SEDAR at www.sedar.com.
TERRANE METALS CORP.
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" as such term is used in applicable
Canadian laws. These statements relate to analyses and other
information that are based on forecasts of future results,
estimates of amounts not yet determinable and assumptions of
management. In particular, statements concerning Mineral Resource
and Mineral Reserve estimates should be viewed as forward-looking
statements to the extent that they involve estimates of the
mineralization that will be encountered if the property is
developed. Any statements that express or involve discussions with
respect to predictions, expectations, beliefs, plans, projections,
objectives, assumptions or future events or performance (often, but
not always, using words or phrases such as "expects" or "does not
expect", "is expected", "anticipates" or "does not anticipate",
"plans, "estimates" or "intends", or stating that certain actions,
events or results "may", "could", "would", "might" or "will" be
taken, occur or be achieved) are not statements of historical fact
and should be viewed as "forward-looking statements". Such forward
looking statements, including but not limited to, those with
respect to the price of metals, the ability of the closing
conditions to the closing of the Arrangement to be satisfied, the
timing of the closing of the Arrangement, the amount of estimated
mineralization and of contained metals and the timing of and
possible outcome of pending economic evaluations and other factors
and events described in this News Release, involve known and
unknown risks, uncertainties and other factors which may cause the
actual results, performance or achievements of
the Company to be materially different from any future results,
performance or achievements expressed or implied by such
forward-looking statements. Such risks and other factors include,
among others, the actual results of exploration activities;
variations in the underlying assumptions associated with the
estimation or realization of Mineral Resources and Mineral
Reserves, the conclusions of economic evaluations and possible
variations in ore grade or recovery rates; costs and timing of the
development of new deposits; availability of capital to fund
programs and the resulting dilution caused by the raising of
capital through the sale of shares; accidents, labour disputes and
other risks of the mining industry including without limitation
those associated with the environment, delays in obtaining
governmental approvals, permits or financing or in the completion
of development or construction activities, title disputes or claims
limitations on insurance coverage. 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: Thompson Creek Metals Company Inc. Pamela Solly
Director Investor Relations (303) 762-3526 psolly@tcrk.com Renmark
Financial Communications Inc. Christine Stewart (416) 644-2020
cstewart@renmarkfinancial.com
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