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Strategies & Market Trends : Dino's Bar & Grill -- Ignore unavailable to you. Want to Upgrade?

To: Goose94 who wrote (9107)	10/4/2014 9:53:11 AM
From: Goose94	Read Replies (1) \| Respond to of 202399

Quaterra Resources (QTA-V) Oct 3rd 2014 today announced it has closed the transaction selling its US subsidiaries’ interest in three non-core copper and molybdenum assets to Freeport-McMoRan Mineral Properties Inc. for US$5 million, to be paid in tranches as described below. An agreement to sell the assets was announced on September 11, 2014. Freeport has now acquired Quaterra’s total remaining interests in its Southwest Tintic, Utah and Butte Valley, Nevada copper projects, and its Cave Peak, Texas molybdenum project for US$5 million, payable in tranches. Quaterra has also issued 19 million non-transferable share purchase warrants to Freeport, each such warrant entitling Freeport to purchase one common share of Quaterra at a price of US$0.16 per share for five years, subject to vesting and termination provisions corresponding to the payment of the Purchase Price in tranches. Of the US$5 million Purchase Price, US$1 million has been paid upon closing with the balance payable in US$500,000 tranches (subject to adjustment in certain circumstances) every quarter commencing January 1, 2015. The 19 million warrants are exercisable for five years with 20% having vested upon closing and 10% vesting upon each quarterly payment of the Purchase Price. In the event of any failure to pay a quarterly payment of the Purchase Price, any unvested warrants will terminate; conversely, upon any accelerated payment of the balance of the Purchase Price any unvested warrants will vest. The warrants and any shares issued on exercise of the warrants are subject to a 4-month hold period expiring February 4, 2015. About Quaterra Resources Inc.Quaterra Resources Inc. is a junior copper exploration and development company with the primary objective to advance its US subsidiary’s US-based copper projects in the Yerington District, Nevada. On behalf of the Board of Directors,Steven Dischler, President & CEO Quaterra Resources Inc. 1 775-463-9600