Quaterra Provides Corporate Update and Status of NYSE Listing
November 6, 2013
Quaterra Resources Inc. today announced the implementation of the following key corporate initiatives from August to the end of October that have helped the Company continue on its path of asset monetization and general corporate restructuring: the receipt of $1M from the acquisition of property by Freeport-McMoran Mineral Properties Inc. near Butte Valley, Nevada; the successful completion of an oversubscribed $2.9M private placement; the sale of three properties in central Mexico to Goldcorp Inc. for a total of $375,000 plus a 2% NSR royalty on each property capped at $2M; and aggressive cost cutting measures to lower general and administrative costs.
