Quaterra Resources Inc. today announced that it has closed the previously announced non-brokered private placement of up to US$500,000 of units, each Unit priced at US$1,000 and comprised of one Non-Transferable Convertible Redeemable US$1,000 Principal Amount Promissory Note and 11,442 Non-Transferable Common Share Purchase Warrants. Quaterra received subscriptions aggregating US$500,000, which amount has been added to the Company’s working capital, and, accordingly, has issued Notes aggregating US$500,000 principal amount and 5,721,000 Warrants entitling the purchase of up to 5,721,000 fully paid common shares of Quaterra at CDN$0.16 per share until January 2, 2016, subject to the Company’s right to accelerate the expiry date in certain circumstances.