Accelerated Warrants Exercised
VANCOUVER, B.C. – Quaterra Resources Inc. today announced that the Company has issued 2,480,785 common shares pursuant to the exercise of share purchase warrants under the acceleration clause of a non-brokered private placement which closed on December 20, 2006. The gross proceeds of the warrants, exercised by 97 of 101 participants, total CDN$5,581,766. Funds will be used to continue drilling uranium and copper prospects on the Arizona Strip and MacArthur, Nevada respectively; and to initiate drilling programs for gold and silver in Mexico at Mirasol and Nieves.
Quaterra Resources Inc. (TSX-V: QTA) is a junior exploration company focused on making significant mineral discoveries in North America. The company uses in-house expertise and its extensive network of consultants, prospectors and industry contacts to identify, acquire and evaluate prospects in mining-friendly jurisdictions with the potential to host large base metal, precious metal or uranium deposits. The company’s preference is to acquire a 100% interest in properties on reasonable terms and maintain this interest through initial evaluation.
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for the adequacy or accuracy of the contents of this news release, which has been prepared by management.