TerraX to Acquire Gold Matter Corporation and Appoint Gerald Panneton as Executive Chairman of the Board

About this update from Gold Terra Resource Corp.

[{"type":"text","content":"TerraX to Acquire Gold Matter Corporation and Appoint Gerald Panneton as Executive Chairman of the BoardVANCOUVER, BC / ACCESSWIRE / September 30, 2019 / TerraX Minerals Inc. (TSXV:TXR)(Frankfurt:TXO)(OTC Pink:TRXXF) (\"TerraX\" or the \"Company\") is pleased to announce that it has entered into an agreement with Gold Matter Corporation (\"Gold Matter\"), a private closely-held corporation, whereby the Company will acquire all of the shares of Gold Matter in exchange for 5 million shares of the Company on a one-for-one basis, resulting in former shareholders of Gold Matter holding approximately 4% of the issued and outstanding common shares of the Company (the \"Acquisition\"). The shareholders of Gold Matter have agreed to a four month hold on the TerraX shares to be issued to them, with Gerald Panneton, the founder agreeing to a further eight month hold (for a total 12 month hold).In connection with, and effective upon completion of, the Acquisition, the Company has agreed to appoint Gerald Panneton, founder of Detour Gold, as the Company's Executive Chairman and Louis Dionne, Director. Mr. Dionne is a highly regarded mining engineer and original team member at Detour Gold. Mr. Panneton is expected to provide strategic leadership to the Company. To further incentivize Mr. Panneton to drive value for the Company's shareholders over the medium to long term, he has agreed to make an equity investment (the \"Investment\") in TerraX on the same terms as the last financing completed by the Company in June 2019, subject to a statutory four month and one day hold period, for proceeds to the Company of $360,000, expected to be completed concurrently with the Acquisition. To accommodate additional demand, the Company has agreed to accept additional subscriptions on the same terms as Mr. Panneton's investment up to a maximum of $2 million, on a non-brokered private placement basis.\"I am delighted to welcome Messrs. Panneton and Dionne to the TerraX team. These gentlemen add significant depth and profile to our board of directors. In taking the role of Executive Chairman, Mr. Panneton brings with him 35 years of technical expertise in exploration and mine development punctuated by the successful build of Detour Gold. The $2.6 billion raised to build the Detour Lake Gold Mine from acquisition to production in only six years is a testament...

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