Terraco Gold Corp.
TSX VENTURE : TEN

Terraco Gold Corp.

April 22, 2009 07:00 ET

Terraco Amends Warrant Exercise Price and Expiry Date

VANCOUVER, BRITISH COLUMBIA--(Marketwire - April 22, 2009) -

THIS NEWS RELEASE IS NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES.

Terraco Gold Corp. ("Terraco") (TSX VENTURE:TEN) has applied to the TSX Venture Exchange (the "Exchange") for approval to amend the exercise price and expiry date of the four million warrants issued on May 9, 2007 pursuant to the non-brokered unit private placement announced on April 2, April 5 and May 10, 2007, respectively.

Subject to Exchange approval, the original expiry date of the warrants will be extended for an additional three years to May 9, 2012, with the exercise price per warrant during year three being $0.15 and $0.35 thereafter. The expiry date of the warrants will be accelerated to 21 business days following the date on which Terraco gives notice to the holders of the warrants that its common shares have closed for 20 consecutive trading days at a price of $0.20 or greater during year three and $0.45 or greater thereafter. In all other respects, the terms of the warrants will remain unchanged and in full force and effect.

The warrants are currently set to expire on May 9, 2009. The exercise price per warrant is currently set at $1.00.

Terraco is a mineral exploration company, listed on the Exchange under the symbol "TEN". Please visit Terraco's website at www.terracogold.com for additional information.

ON BEHALF OF THE BOARD

Todd Hilditch, President

Neither the Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Exchange) accepts responsibility for the adequacy or accuracy of this release.

Contact Information

  • Terraco Gold Corp.
    Todd Hilditch
    President
    604.443.3830 or Toll Free: 1.877.792.6688
    604.682.3860 (FAX)
    www.terracogold.com