CALGARY, ALBERTA–(Marketwired – Jan. 26, 2016) – Anderson Energy Inc. (“Anderson” or the “Company”) (TSX:AXL) announces that pursuant to the Maturity Notice delivered to debentureholders on December 18, 2015, and as previously disclosed, the Company has exercised its right under the terms of the indenture governing the Company’s 7.50% Series A convertible unsecured subordinated debentures maturing on January 31, 2016 (the “Series A Debentures”) to repay both the entire principal and the accrued and unpaid interest on the Series A Debentures in common shares of the Company.
The number of common shares to be issued is calculated by dividing the principal amount of the Series A Debentures ($50 million) together will all accrued and unpaid interest thereon ($1.875 million) by 95% of the Current Market Price. The Current Market Price is the volume weighted average trading price of the common shares of the Company on the Toronto Stock Exchange for the 20 consecutive trading days ending on the fifth trading day preceding the maturity date.
The Current Market Price based on trading from December 24, 2015 to January 25, 2016 is $0.00595385 and the number of common shares to be issued is 9,171,415,446.