Terra Ventures [TSX-V:TAS, OTCQX:TASFF, FSE:G7K] - Hathor Exploration Limited to Acquire Terra Ventures Inc.
Vancouver, British Columbia - Hathor Exploration Limited (TSX: HAT) (“Hathor”) and Terra Ventures Inc. (TSX-V: TAS) (“Terra”) today jointly announce that they have executed a binding letter agreement (the “Agreement”) pursuant to which Hathor will acquire, in an all-share transaction, all of the issued and outstanding shares of Terra by way of a plan of arrangement (the “Arrangement”).
The synergy of this proposed transaction is underscored by the shared nature of the core assets of the two companies. The Arrangement consolidates a 100% interest in the Roughrider uranium deposit and an approximate 98% interest in the large and prospective Russell Lake exploration project, located at either end, respectively, of the prolific eastern corridor of the Athabasca Basin.
Both companies believe this consolidation of property ownership will create value to a degree not possible for either company to achieve on its own; the sum is greater than the parts. Hathor shareholders are expected to realize full value for the mineral resource potential of the Roughrider deposit as it grows. Terra shareholders are expected to benefit more from full participation in Roughrider and in all of Hathor’s other properties, including Russell Lake.
Vancouver, British Columbia - Hathor Exploration Limited (TSX: HAT) (“Hathor”) and Terra Ventures Inc. (TSX-V: TAS) (“Terra”) today jointly announce that they have executed a binding letter agreement (the “Agreement”) pursuant to which Hathor will acquire, in an all-share transaction, all of the issued and outstanding shares of Terra by way of a plan of arrangement (the “Arrangement”).
The synergy of this proposed transaction is underscored by the shared nature of the core assets of the two companies. The Arrangement consolidates a 100% interest in the Roughrider uranium deposit and an approximate 98% interest in the large and prospective Russell Lake exploration project, located at either end, respectively, of the prolific eastern corridor of the Athabasca Basin.
Both companies believe this consolidation of property ownership will create value to a degree not possible for either company to achieve on its own; the sum is greater than the parts. Hathor shareholders are expected to realize full value for the mineral resource potential of the Roughrider deposit as it grows. Terra shareholders are expected to benefit more from full participation in Roughrider and in all of Hathor’s other properties, including Russell Lake.
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