Quaterra Resources Amends Share Purchase Warrant Terms

Quaterra Resources Inc. (TSXV:QTA) has received written consent of all warrant holders to amend terms of outstanding warrants. Accordingly, the company has amended the exercise price of 6,541,571 share purchase warrants from US$0.53 to US$0.16.

As quoted in the press release:

The expiration date of the Warrants will remain December 28, 2014, subject to an accelerated exercise period provision which will provide that, if the closing price of the Company’s shares is US$0.215 or higher for 10 consecutive trading days (the “Premium Trading Days”), Warrant holders will have 30 calendar days, commencing seven calendar days after the last Premium Trading Day, to exercise the Warrants. The Warrants will automatically expire if the Warrant holders do not exercise them within this 30 day period.

Click here to read the Quaterra Resources Inc. (TSXV:QTA) press release