SOURCE: Concorde Resources Corp.

May 03, 2006 14:34 ET

Concorde Resources Purchases Voting Majority of Terrax Inc.

PORT ST. LUCIE, FL -- (MARKET WIRE) -- May 3, 2006 -- Concorde Resources Corp. (OTC: CCDE) is pleased to announce that under the terms of a Definitive Agreement executed on the 25th of April 2006, Concorde has purchased the majority interest in Terrax Inc. and its core products for international customs processing known as

Paul Taylor, Chairman of Concorde, stated, "We are all very excited about this acquisition. It is so rare to find a virtually unknown private company, with a team of well-seasoned academics in management and a robust business application that is perfectly applicable to today's US Homeland Security initiatives. We are just beginning to fully comprehend the magnitude and scope of the Terrax applications."

The Definitive Agreement has strategically and financially aligned Concorde to become a partner with Terrax and provide guidance through the coming processes of Terrax's immediate growth, capital raising and OTC fully reporting status. Support and guidance from Concorde in corporate areas complete the balance of technology and marketing which were the two strengths of the Terrax group. WeNetShip will immediately begin improved service to its emerging west coast customer base and broaden its product services with the assistance of its strategic partner, A&A Contract Customs Brokers of White Rock. The terms of the Agreement will be part of Terrax's forthcoming SEC filings.

Don Hilman, a founder of Terrax and WeNetShip, said, "I am very pleased to be working with Concorde which has broad experience in the capital markets and in strategic advisement to companies such as Terrax which are poised for growth. With their help we can aggressively advance our company into the public market."

About Concorde Resources Corp.:

Concorde Resources Corp. is a venture, investment and management conglomeration that develops partnerships and/or acquires control and recapitalizes small high growth businesses.

About Terrax Inc.:

Terrax Inc. was formed in 1999 to provide paperless, customs brokerage services for US to Canada markets. Since that time the Company has grown the WeNetShip product to adequately profile all north-south customs needs and has added technology to the core product to make it adaptable for new Homeland Security initiatives. Terrax delivers its products through the WeNetShip division with its own proprietary technologies. Electronic commerce is growing exponentially and represents a huge business opportunity. Europe and Asia have definable numbers of exporters and each of these thousands is a potential client for WeNetShip. Terrax maintains corporate offices in Gardnerville, Nevada and shares warehousing in Blaine, Washington and Victoria, Canada.

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