Terra Ventures Inc.: Novus Gold Corp. Exercises REN Property Repurchase Option
7,500,000 Shares Issued to Terra Ventures Inc.
VANCOUVER, BRITISH COLUMBIA–(Marketwire – Feb. 4, 2010) – Terra Ventures Inc. (TSX VENTURE:TAS) (“Terra” or “the Company”) wishes to make well known which Novus Gold Corp. (“Novus”) has exercised the choice to repurchase Terra’s 51% seductiveness in the REN bullion skill in the Northwest Territories by arising 7.5 million of the shares to Terra (the “Repurchase Option”). Prior to Novus sportive the Repurchase Option, Terra had exercised the choice to take a 51% seductiveness in the REN skill as a outcome of Terra carrying incurred $1.5-million in expenditures on the REN skill by Dec 31, 2009. Terra’s 7,500,000 shares have been next to to 18.24% of Novus’s 41,125,000 released shares.
The REN skill hosts glued together iron arrangement bullion showings in the Point Lake area, we estimate 90 kilometres southwest of the before producing Lupin bullion cave owned by Echo Bay Mines. Approximately thirty cavalcade holes were finished on the main bullion display on the REN skill in between 1974 and 1990 by Texasgulf, Cominco and Westview. A serve 9 holes were drilled by Terra in 2009 (results in a press recover antiquated Jan 11, 2010).
Terra can suggest which it intends to reason the shares for investment purposes only. Terra does not have any benefaction goal to take any one more shares of Novus. However, resources might shift and outcome in alternative acquisitions of shares or alternative securities. The shares were acquired at a deemed worth of $0.20 each.
Terra additionally wishes to suggest which the Company has postulated batch options to squeeze up to 1,200,000 shares at $0.45 for a duration of ten years.
On interest of the house of directors of
TERRA VENTURES INC.
“Gunther Roehlig”
Gunther Roehlig, President & CEO
This News Release contains forward-looking statements. Forward-looking statements have been statements which describe to destiny events. In a little cases, you can brand forward-looking statements by vernacular such as “may”, “should”, “expects”, “plans”, “anticipates”, “believes”, “estimates”, “predicts”, “potential” or “continue” or the disastrous of these conditions or alternative allied terminology. These statements have been usually predictions and engage well known and opposite risks, uncertainties and alternative factors which might means the or the industry’s tangible results, levels of activity, opening or achievements to be materially opposite from any destiny results, levels of activity, opening or achievements voiced or pragmatic by these forward-looking statements.
While these forward-looking statements, and any assumptions on which they have been based, have been done in great conviction and simulate the stream visualisation per the citation of the business, tangible formula will roughly regularly vary, infrequently materially, from any estimates, predictions, projections, assumptions or alternative destiny opening referred to herein. Except as compulsory by germane law, the Company does not intend to refurbish any of the forward-looking statements to heed these statements to tangible results.
Neither the TSX Venture Exchange nor the Regulation Services Provider (as which tenure is tangible in the policies of the TSX Venture Exchange) accepts shortcoming for the endowment or correctness of this headlines release.
