/NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR
DISSEMINATION IN THE UNITED STATES./
VANCOUVER, April 8 /CNW/ - Terra Ventures Inc. (TSXV: TAS) ("Terra" or
the "Company") is pleased to announce that its board of directors has
declared a special dividend-in-kind (the "Dividend") of the Company's
entire holding of 7,500,000 common shares (the "Novus Shares") in Novus
Gold Corp. (TSX-V:NOV, "Novus") to its shareholders of record as at
April 29, 2011 (the "Record Date"). Each holder of the Company's common
shares on the Record Date will receive that number of Novus Shares
equal to the fraction of 7,500,000 divided by the total issued and
outstanding common shares of the Company on the Record Date for each
one of the Company's common shares held. Shareholders will not receive
fractional shares. Novus Shares received in the Dividend will be
restricted from trading for a four month period until or about August
The dividend will be taxable and non-residents of Canada will be subject
to Canadian withholding taxes. No Novus Shares will be dividended to
shareholders who are non-residents of Canada. Rather, such Novus Shares
will be delivered to a trustee for sale in the open market following
the dividend-in-kind and the net proceeds will be delivered to
non-resident shareholders, net of any withholding taxes.
The payment date for the Dividend is on or about May 9, 2011.
Novus is a Canadian-based gold explorer, which has assembled a proven
team, with the capabilities to find, finance and develop gold assets
which have world class size and grade potential. It is currently
operating in the Dominican Republic and the Northwest Territories.
Novus has recently announced that it has entered into a letter of
intent with Australian-listed EnviroGold Limited (ASX:EVG,
"EnviroGold") pursuant to which EnviroGold will have the option to
invest up to US$10 million to acquire up to a 50% interest in Novus's
Dominican Republic subsidiary that holds its La Paciencia and La Yugua
Properties. The La Paciencia property (8,600 hectares) is located 10
kilometres west of the Pueblo Viejo gold deposit and is underlain by
the same geology. The La Yagua property (9,900 hectares) is located 20
kilometres southwest of La Paciencia. Both concessions are
approximately one hour northwest of the Dominican Republic's capital
city, Santo Domingo.
Mike Magrum, PEng, a qualified person under National Instrument 43-101,
has approved the technical content of this news release.
Terra Ventures is a junior exploration company focused on acquiring and
developing quality uranium projects which have world class potential.
The Company is dedicated to building shareholder value by acquiring
strategic uranium properties in this period of strengthening global
demand for uranium supply. The Company's combination of strategic land
positions, prospective exploration projects and no risk carried
projects - combined with technical expertise and management's
fundraising ability - are the foundation for growth in the uranium
For further particulars about Terra Ventures, please contact Ryan
Johnson, Investor Relations, at 1-866-683-0911 or visit the Company's
website at www.terrauranium.com.
On behalf of the board of directors of
TERRA VENTURES INC.
Gunther Roehlig, President & CEO
This news release does not constitute an offer to sell or the
solicitation of an offer to buy securities in any jurisdiction. The
Novus Shares to be distributed have not been approved or disapproved by
any Canadian or U.S. regulatory authority. The Novus Shares have not
been and will not be registered under the United States Securities Act
of 1933, as amended, or any state securities laws. The Novus Shares may
not be offered or sold in the United States of America or to, or for
the benefit of, a U.S. person.
Neither the TSV Venture Exchange nor its Regulation Service Provider (as
that term is defined in the policies of the TSX Venture Exchange)
accepts responsibility for the adequacy or accuracy of this release.
SOURCE Terra Ventures Inc.
For further information:
For further particulars about Terra Ventures, please contact Ryan Johnson, Investor Relations, at 1-866-683-0911 or visit the Company's website at www.terrauranium.com.