LOS ANGELES, April 17 LAWFUEL – The Law & Business Newswire — Terra Nostra Resources Corporation today announced the engagement of Milbank, Tweed, Hadley & McCloy LLP as special counsel to assist the Company in applying for a listing on a major U.S. Stock Exchange. Management of the Company has determined to actively pursue a listing on the New York Stock Exchange or such other major U.S. Stock Exchange that legal counsel may recommend. Terra Nostra will be working closely with Milbank, Tweed, Hadley & McCloy LLP to fulfill all requirements and advance the listing process.
Milbank, Tweed, Hadley & McCloy LLP, http://www.milbank.com, is one of the world’s pre-eminent global law firms, with approximately 550 lawyers who provide a full range of financial and business legal services to many of the world’s leading financial, industrial and commercial enterprises, as well as governments, institutions and individuals. Milbank is headquartered in New York and has offices in Los Angeles, Washington, DC, London, Frankfurt, Munich, Tokyo, Hong Kong, Beijing and Singapore.
Sun Liu James Po, Chief Executive Officer, stated “We are pleased to have the opportunity to work with Milbank, Tweed, Hadley & McCloy LLP as our special counsel to assist the Company in gaining international market recognition for Terra Nostra, by working together to move the Company from the OTCBB market quotation system to a major U.S. Exchange. We anticipate that the Firm’s Asian and global presence will be of great benefit as Terra Nostra continues to implement its vision of rapidly becoming an international force in the copper and stainless steel industries.”
About Terra Nostra Resources Corporation
Terra Nostra is one of the leading copper producers in China through its 51 percent interest in Shandong Terra Nostra Jinpeng Metallurgical Co., Ltd., which has an existing and under construction production capacity of 170,000 MT (metric tons) of electrolytic copper, 20,000 MT of low-oxygen copper, and value-added copper rod and wire facilities. Terra Nostra is also emerging as a leading stainless steel producer in China through its 51 percent interest in Shandong Quanxin Stainless Steel Co., Ltd., a modern stainless steel production facility that commenced operations in early 2006 with a now expanded 230,000 MT casting mill, and a recently commissioned 150,000 MT rolling mill. The two joint venture companies, which Terra Nostra recently entered into an agreement to increase its ownership up to 90%, with total assets exceeding US$200 million and over 1000 employees, are located in the highly industrialized coastal province of Shandong, midway between Beijing and Shanghai. More information on Terra Nostra can be found at http://www.tnr-corp.com.
Forward Looking Statements
Except for the historical information contained herein, the matters set forth in this press release, including statements with respect to expectations concerning (i) projects underway or under consideration, including production capacity and completion schedules; (ii) business and future potential of Terra Nostra Resources Corporation (“TNR”); (iii) estimates or implications of future earnings, profits, EBIDTA, and the sensitivity of earnings to metals prices; (iv) estimates of future metals production, sales and profitability; (v) estimates of future cash flows, and the sensitivity of cash flows to the other metals and ore costs as well as, but not limited to, fluctuations in fuel prices, scrap prices, and the availability of both, and statements related to these matters or which use words such as “may,” “might,” “should,” “expect,” “plan,” “anticipate,” “believe,” “estimate,” “predict,” “potential” or “continue,” and the negative of these terms and other comparable terminology are all forward-looking statements within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995. Further risks, uncertainties and other factors, which affect the forward- looking statements included herein, and could cause actual results to differ materially from future results expressed, projected or implied by such forward-looking statements include, but are not limited to, completion of TNR’s capital contributions to the joint venture companies, working capital financing, metals price volatility, competition for projects, reserve acquisition costs, currency fluctuations, international economic uncertainty, sovereign risk, force majeure, changes in tax law or concession law, project scheduling delays, labor disputes, increased production costs and variances in ore grade, scrap grade or recovery rates from those assumed in production plans, political and operational risks in the countries in which TNR may operate and governmental regulation and judicial outcomes, and other risks detailed from time to time in TNR’s filings with the Securities and Exchange Commission, including its Quarterly Report on Form 10-Q for the quarter ended November, 2006. Copies of each filing may be obtained from TNR or the SEC. Furthermore, metals operation, by their very nature, entail inherent cyclical, sectoral, and commodity risk and could expose an investor to the entire loss of all capital invested. TNR does not undertake any obligation to publicly release any revisions to any forward-looking statements to reflect events or circumstances after the date of this release or to reflect the occurrence of unanticipated events, except as may be required under applicable securities laws.