Quaterra Resources Inc.: Exhibit 99.1 - Filed by newsfilecorp.com
Exhibit 99.1
| March 4, 2014 |
|
| |
QTRRF: OTCQX International |
| |
QTA: TSX VENTURE |
| |
NR-06-14 |
QUATERRA ANNOUNCES AGREEMENT TO SELL URANIUM
ASSETS
Transaction will free up time and resources to focus on
Company’s core Yerington copper assets
VANCOUVER, B.C.— Quaterra Resources Inc. today announced
that it has entered into an agreement to sell its uranium properties and assets
located in the states of Arizona, Utah and Wyoming for Cdn $500,000. The sale is
subject to regulatory approval.
The all cash transaction is scheduled to close on March 14,
2014. The Company ceased exploration work on its uranium properties in 2009,
funding largely only the holding costs associated with keeping them in good
standing.
“The sale of Quaterra’s uranium assets is one component of the
ongoing restructuring of the Company that allows us to continue the focus on our
Yerington copper assets,” says Quaterra President and CEO Steven Dischler.
“The transaction will provide working capital for the company
and free up time and resources to continue our focused strategic plan. Divesting
of our non-core assets will allow us to realize the value we believe is inherent
in our Yerington properties,” he says.
About Quaterra Resources, Inc.
Quaterra Resources Inc. (OTCQX: QTRRF; TSX-V: QTA) is a junior
exploration and development company with a successful track record of making
significant mineral discoveries in North America. The Company’s primary
objective is the advancement of its flagship projects in the Yerington copper
district, Nevada. The monetization of non-core assets is in progress to
accelerate this effort.
On behalf of the Board of Directors,
Steven Dischler, President & CEO
Quaterra Resources
Inc.
For more information please contact:
Mr. Steven Dischler,
President & CEO
Quaterra Resources Inc.
775-463-9600
Disclosure note:
Some statements contained in this news release are
forward-looking statements under Canadian securities laws and within the safe
harbor of the U.S. 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. Assumptions
include that the all cash transaction will close at the scheduled time, that the
restructuring of the Company will allow it to continue the focus on its
Yerington copper assets, that the provision of working capital for the Company
will free up time and resources to continue its focused strategic plan and that
the divesting of the non-core assets will allow the Company to realize the value
it believes is inherent in its Yerington properties. 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.
Neither TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in policies of the TSX Venture Exchange)
accepts responsibility for the adequacy or accuracy of this release.
