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CTM Canterra Minerals Corp

0.05
0.01 (25.00%)
29 Jul 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type
Canterra Minerals Corp TSXV:CTM TSX Venture Common Stock
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.01 25.00% 0.05 0.045 0.05 0.05 0.045 0.045 1,448,997 17:28:35

Canterra Minerals Corporation Acquires Triex Minerals Corporation

14/12/2009 6:54pm

Marketwired Canada


Canterra Minerals Corporation (TSX VENTURE:CTM) (the "Company") - Mr. Randy
Turner, President and Chief Executive Officer is pleased to report that,
pursuant to resolutions passed by the shareholders of Diamondex Resources Ltd.
("Diamondex") at the annual meeting of shareholders held on November 19, 2009,
effective on the market opening on December 9, 2009, the Diamondex common shares
were consolidated on the basis of one new share for each ten shares previously
held, and the name Canterra Minerals Corporation was adopted.


On December 11, 2009, Triex Minerals Corporation ("Triex"), by way of a Plan of
Arrangement, became a wholly-owned subsidiary of the Company and effective as of
today's date, the common shares of Triex have been delisted from the TSX Venture
Exchange. Triex shareholders will be entitled to receive 0.85 shares of the
Company in exchange for each Triex share held.


A number of tangible benefits are expected to be realized as a result of the
foregoing transactions. These benefits include a more diversified property
portfolio with respect to both commodity focus and mineral exploration districts
and a strengthened group of officers and directors mandated to advance the
existing properties and aggressively seek out new opportunities. In addition to
the significant savings in general and administrative expenses, allowing a
greater percentage of the Company's working capital to be directed at
exploration and acquisition efforts, the Company's shareholders will have a more
diverse, multi-commodity portfolio comprising established properties located in
Ontario, Saskatchewan, Alberta and northern Canada, with identified exploration
targets focused on base metals, gold, diamonds and uranium. 


The directors and senior management of the Company consist of Messrs. James E.
Eccott, James Excell, Gary R. Lindsay, John A. McDonald, Hugh C. Morris, Mike
Muzylowski and Randy C. Turner. Messrs. Eccott and Turner will be, respectively,
the Chairman and President & Chief Executive Officer of the Company, while Mr.
David B. Clarke will be Senior Vice President - Exploration, and Mr. J.
Christopher Mitchell will be the Company's Chief Financial Officer and Corporate
Secretary. Dr. Michael Gunning has declined an invitation to join the board and
will be pursuing other business opportunities. The directors wish to acknowledge
his contribution and service as President & CEO and a director of Triex and wish
him well in his new endeavours.


CANTERRA MINERALS CORPORATION

Randy C. Turner, President

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