Terra Nostra Resources Corp (fka TNROQ)

[AngieM]

Copper financing complete ... up we go !
Terra Nostra Completes Balance of Institutional Financing
Wednesday October 24, 8:08 am ET


LOS ANGELES and ZIBO, China, Oct. 24 /PRNewswire-FirstCall/ -- Terra Nostra Resources Corporation (OTC Bulletin Board: TNRO - News) a majority owner of two joint venture companies in the copper and stainless steel industries in China, is pleased to announce that it has closed a private placement totaling $5,604,835 in Senior Secured Convertible Notes.
This is the second and final closing of an oversubscribed $12.5 million offering to accredited institutional investors, previously announced September 4, 2007.

"The closing of this financing will allow us to allocate additional capital directly towards increasing production at our copper operations," states George Chua, Terra Nostra's Chief Operating Officer. "In particular, this allows us to proceed with the inauguration of the new 80,000 MT copper facility, which is an important component of achieving our business objectives for this fiscal year."

About Terra Nostra Resources Corporation

Terra Nostra is a leading copper and stainless steel producer in China through its 51% majority interests in two joint venture companies in China. Shandong Terra Nostra Jinpeng Metallurgical Co., Ltd. has an existing and under construction total production capacity of 170,000 MT of electrolytic copper and 20,000 MT of low-oxygen copper, together with value-added copper rod and wire capabilities. Shandong Quanxin Stainless Steel Co., Ltd. operates a modern stainless steel production facility with a 230,000 MT capacity casting mill, and a 150,000 MT rolling mill. The two joint venture companies, with total assets in excess of US $180 million and over 1,000 employees, are located in the highly industrialized coastal province of Shandong, midway between Beijing and Shanghai. Terra Nostra has entered into an agreement to increase its majority ownership in both joint ventures from 51% to 90%, and this transaction is expected to be completed no later than December 31, 2007. More information on Terra Nostra can be found at http://www.tnr-corp.com.