Reuters reported that Corriente Resources Chinese suitor CRCC Tongguan Investment will extend its bid to acquire all of Corriente's outstanding shares to April 28th from March 25th 2010.

CRCC Tongguan, which is controlled by China's Tongling Nonferrous Metals Group and China Railway Construction Corporation agreed in December to pay CAD 679 million to acquire Corriente, an Ecuador focused, Vancouver based mining exploration company.

Corriente's shares fell sharply on Monday after reports that Chinese companies might begin to pull out of investments in Ecuador due to a recent spat between the 2 countries. But its shares regained ground recently as investor fears began to ease.

The Chinese company did not declare any reason for the extension of the offer, but the announcement spooked investors and Corriente's shares fell 4.2% to CAD 7.52 in early trade recently on the Toronto Stock Exchange.

CRCC Tongguan did state that the offer is subject to certain conditions, including receipt of all necessary regulatory approvals. It said that it believes that all approvals necessary to complete the offer will be obtained before the new expiration date.

(Sourced from Reuters)