(Source: MARKETWIRE)
Quaterra Resources Inc. (TSX VENTURE: QTA)(NYSE Amex: QMM) (the
"Company") today announced that it proposed to increase its offering
to 6,000,000 Units and further that the News Release disseminated on
October 1, 2009, through inadvertence, contained inaccurate
information. The participation of Insiders in the announced Private
Placement was not by way of debt settlement or in satisfaction of
indebtedness incurred by reason of services rendered to the Company
for which payment had been deferred. Insiders are participating in
the Placement to the extent of 1,019,450 Units but all Insiders are
remitting payment in the same manner as all other subscribers for
Units.
On behalf of the Board of Directors,
Scott B. Hean, Chief Financial Officer, Quaterra Resources Inc.
Statements contained in this news release that are not historical
facts are forward-looking statements as the term is defined in the
private securities litigation reform act of 1995. Such
forward-looking statements are subject to risks and uncertainties
which could cause actual results to differ materially from estimated
results. Quaterra relies upon litigation protection for
forward-looking statements.
This press release, required by applicable Canadian laws, is not for
distribution to U.S. news services or for dissemination in the United
States, and does not constitute an offer of the securities described
herein. These securities have not been registered under the United
States Securities Act of 1933, as amended, or any State securities
laws, and may not be offered or sold in the United States or to U.S.
persons unless registered or exempt therefrom.
Expanded information on the Company's projects is described on our
website at www.quaterra.com.
The TSX Venture Exchange and the NYSE Amex 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.
Contacts:
Quaterra Resources Inc.
Nicole Rizgalla
1-888-456-1112, 604-681-9059
corpdev@quaterra.com
www.quaterra.com
SOURCE: Quaterra Resources Inc.
A service of YellowBrix, Inc.
