Terraco Gold and Western Standard Execute Definitive Agreement

Terraco Gold Corp. (TSXV:TEN) and Western Standard Metals Ltd. (TSXV:WSM) announces that the companies have executed a definitive arrangement agreement to complete the previously announced transaction pursuant to which Terraco will acquire all of the outstanding securities of Western.

The press release is quoted as saying:

The execution of the Agreement clears the way for Western securityholders to vote on and approve the merger at a special meeting of securityholders to be held in January, 2011, with the closing of the Arrangement occurring shortly thereafter. Concurrently with the execution of the Agreement, each of the directors and officers and certain shareholders of Western, holding in total approximately 25% of the current issued and outstanding share capital of Western, executed support agreements pursuant to which they agreed to vote their Western shares in favour of the Arrangement. Completion of the Arrangement remains subject to a number of conditions including, but not limited to, receipt of all regulatory, court and shareholder approvals.

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