TerraX Appoints Gerald Panneton as Executive Chairman; Completes Acquisition of Gold Matter Corporation

About this update from Gold Terra Resource Corp.

[{"type":"text","content":"TerraX Appoints Gerald Panneton as Executive Chairman; Completes Acquisition of Gold Matter CorporationVANCOUVER, BC / ACCESSWIRE / October 22, 2019 / TerraX Minerals Inc. (TSXV:TXR) (Frankfurt:TXO) (OTC Pink:TRXXF) (\"TerraX\" or the \"Company\") is pleased to announce that it has completed the acquisition (the \"Acquisition\") of Gold Matter Corporation (\"Gold Matter\"), as previously announced on September 30, 2019. On closing, the Company appointed Gerald Panneton, founder of Detour Gold, as the Company's Executive Chairman and Louis Dionne, also formerly with Detour Gold, as a director. Joseph Campbell, former Executive Chairman, will remain a director of the Company and serve as Chief Operating Officer.Concurrently with the completion of the Acquisition, Mr. Panneton has subscribed for 1,000,000 common shares of the Company at a price of $0.36 per share for proceeds to the Company of $360,000. Such shares are subject to a hold period of four months and one day.Gerald Panneton stated, \"The Yellowknife city gold project represents a very unique opportunity. I am as excited as I was for the Detour Lake acquisition 13 years ago. We look forward to resuming drilling as soon as it is possible on our two best targets, Sam Otto and Crestaurum. We are currently working on a 43-101 compliant mineral resource estimate prepared by an independent group expected to be delivered in Q4 2019. Our goal is to create value for our shareholders and we look forward to doing so on this amazing opportunity.\"As consideration for the Acquisition, the Company issued 5 million common shares of the Company to the shareholders of Gold Matter. The former shareholders of Gold Matter have agreed to a four month hold on the TerraX shares issued to them, expiring on February 21, 2020, with Gerald Panneton, the founder of Gold Matter, agreeing to a further eight month hold (for a total 12 month hold), expiring on October 21, 2020.As a result of the Acquisition, the Company now holds a 100% undivided interest in the Mulligan Project located in the Province of New Brunswick made up of 12 mining claims comprising 413 units and covering 8,200 hectares, subject to a 2% net smelter returns royalty on production. The highlight of this property is an undrilled gold discovery at surface with a value of 5.67 g/t Au over 16 metres. An IP survey was just completed re...

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