Authorized Shares: 250,000,000 as of 2004-09-01 Float: 2,600,000 as of 2004-11-16
NEWS PORT ST. LUCIE, FL, May 12, 2006 (MARKET WIRE via COMTEX) -- Concorde Resources Corp. (CCDE) is pleased to announce that its majority-owned subsidiary, Terrax Inc., d/b/a WeNetShip has released a letter to its shareholders stating the completion of its purchase agreement with Concorde. As stated in the May 3rd release under the terms of the agreement Concorde is now the majority shareholder in Terrax Inc.
Murray Owen, President of Terrax Inc. stated, "In addition to their advisement, Concorde has been instrumental in establishing an investment from a private equity fund dedicated to the Terrax/WeNetShip business path. We are planning staff increases and corporate ramp up to reflect the business needs of the Terrax/WeNetShip businesses. The first of these is expected to be the formation of WeNetShip Canada Inc. to grow the return goods channel and Canada to US shipment paths."
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