Terraco Gold Corp.

Terraco Gold Corp.

October 30, 2013 16:21 ET

Terraco Announces Participation in Direct Registration System (DRS)

Terraco also announces the expiration and grant of incentive stock options

VANCOUVER, BRITISH COLUMBIA--(Marketwired - Oct. 30, 2013) - Terraco Gold Corp. (TSX Venture:TEN) ("Terraco" or the "Company") is pleased to announce that it has elected to participate in the Direct Registration System ("DRS"). The DRS program allows Terraco shareholders to keep their securities in "book-entry" form without having a physical share certificate issued as evidence of ownership. Instead, Terraco shares are held in the shareholder name and registered electronically in the Company's records, which are maintained by Terraco's transfer agent, Computershare ("Computershare"). Current shareholders are not affected, or required to take any action, by the Company's participation in the DRS program which is simply a step towards facilitating current or potential new shareholders in their ability to hold shares of the Company electronically.

"Over time, we have been receiving more and more inquiries from retail shareholders, particularly in the United States., about holding their shares electronically and felt that it would be beneficial for Terraco to facilitate the DRS system as a service to all of its shareholders," said Todd Hilditch, CEO of Terraco Gold Corp.

If you are a registered holder of the Company's common shares and wish to convert physical securities to DRS, go to www.computershare.com for additional information. Computershare can also be directly contacted at:

Computershare Investor Services
100 University Avenue, 9th Floor
Toronto, Ontario
M5J 2Y1
Telephone: 1-800-564-6253

About DRS

DRS has been operating in the US for over 10 years and is supported by the Securities and Exchange Commission (SEC) and by the three national US stock exchanges (NYSE, MKT and NASDAQ). In Canada, DRS is supported by all of the provincial and federal Business Corporation Acts allowing for a book-entry alternative to the share certificate. DRS is also supported by CDS on behalf of the financial intermediaries who hold all depository securities in book form and that have made DRS the default withdrawal process from CDS.

Holders of securities in DRS have all the traditional rights and privileges as holders of securities in certificate form. Securityholders benefit because:

  • It eliminates the need for securityholders to safeguard and store certificates.
  • It avoids the significant cost of a surety bond for the replacement of and effort involved in replacing physical certificate(s) that might be lost, stolen or destroyed.
  • It permits/enables electronic security transactions between your broker or dealer and Computershare as transfer agent.
  • It provides a full audit trail of all DRS transactions.

The default for all new issuances and transfers of Terraco shares will be electronic book-entry form, unless a paper stock certificate is requested. There is no cost to shareholders to maintain your ownership this way.

The Company also announces the expiration of 3,400,000 incentive stock options within the last 60 days and as of today, the grant of an aggregate total of 2,925,000 incentive stock options to directors, officers, employees and consultants of Terraco pursuant to its Stock Option Plan with certain vesting provisions. These options will be exercisable at a price of CAN$0.11 per share, which is a 10% premium to today's closing price, and will expire on October 29, 2018. The grant of the incentive stock options is subject to regulatory approval.

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

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

Contact Information

  • Terraco Gold Corp.
    Todd Hilditch
    President and CEO
    (604) 443-3831 or Toll free: 1 (877) 792-6688, Ext. 2
    (604) 682-3860 (FAX)