JOINT NEWS RELEASE - TERRA VENTURES INC. AND HATHOR EXPLORATION LIMITED UPDATE STATUS OF ARRANGEMENT
VANCOUVER, Jul 7, 2011, 2011 (Canada NewsWire via COMTEX News Network) --
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Hathor Exploration Limited (TSX: HAT) ("Hathor") and Terra Ventures Inc. (TSXV: TAS) ("Terra") today jointly announce that the special meeting of shareholders of Terra (the "Terra Meeting") to vote on and approve the previously announced transaction pursuant to which Hathor will acquire all of the issued and outstanding shares of Terra by way of a plan of arrangement (the "Arrangement") will be held on August 2, 2011. For further details on the Arrangement, please see the management information circular dated June 30, 2011 and the joint news releases of Hathor and Terra dated May 9, 2011 and April 18, 2011 which are filed on SEDAR at www.sedar.com.
Additionally, Hathor and Terra wish to announce that: (a) on June 29, 2011, TSX Venture Exchange (the "Exchange") conditionally accepted the Arrangement; and (b) on June 30, 2011, Terra obtained an interim order from the British Columbia Supreme Court for convening the Terra Meeting. The completion of the Arrangement remains subject to a number of conditions including, but not limited to, receipt of all regulatory, court and shareholder approvals.
Management of Terra also views the recent update by Hathor of its NI 43-101-compliant resource estimates for the various mineral zones at the Roughrider uranium deposit as very positive and continues to be encouraged by the exploration results at the Roughrider