Quaterra Resources Inc. (TSX VENTURE:QTA)(NYSE Amex:QMM) today announced that pursuant to the Company’s stock option plan, option agreements were entered into with officers, employees and consultants granting the right to purchase an aggregate of 355,000 shares at an exercise price of $1.60 per share for a five year period. Each option will vest in three, six and twelve month periods with all options having fully vested no later than May 24, 2012.
The Company has also agreed to issue 15,306 shares to Roman Friedrich & Company Ltd. at a deemed price of $1.47 per share in consideration of certain financial and advisory services provided to the Company pursuant to an agreement dated April 2, 2009.
On behalf of the Board of Directors,
Thomas Patton, President and CEO, Quaterra Resources Inc.
Some statements contained in this news release are forward-looking statements within the safe harbor of the Private Securities Litigation Reform Act of 1995. These statements generally are identified by words such as the Company “believes”, “expects”, and similar language, or convey estimates and statements that describe the Company’s future plans, objectives or goals. Since forward-looking statements are based on assumptions and address future events and conditions, by their very nature they involve inherent risks and uncertainties. Further information regarding risks and uncertainties which may cause results to differ materially from those projected in forward-looking statements, are included in filings by the Company with securities regulatory authorities. Readers are cautioned not to place undue reliance on forward-looking statements, which speak only as of the date thereof. The Company does not undertake to update any forward-looking statement that may be made from time to time except in accordance with applicable securities laws. References may be made in this press release to historic mineral resource estimates. None of these are NI 43-101 compliant and a qualified person has not done sufficient work to classify these historic estimates as a current mineral resource. They should not be relied upon and Quaterra does not treat them as current mineral resources.
The TSX Venture Exchange and the American Stock Exchange have not reviewed and do not accept responsibility for the adequacy or accuracy of the contents of this news release, which has been prepared by management.