In conjunction with the financing, Anterra has agreed to give priority to LandOcean for its exploration and production technical services. These services are intended to include a comprehensive reservoir study of all of Anterra’s properties, an evaluation of acquisition and development projects and other engineering services.
LandOcean has acquired the shares of Anterra for investment purposes.
Anterra intends to use the proceeds of the financing for general working capital purposes. The Company paid Langgata Financial Consulting a cash fee of $350,000 and issued 1,000,000 warrants. The warrants have an exercise price of $0.10 and will expire on April 4, 2015. The securities issued under the offering (including the Class A shares and warrants) are all subject to a hold period under applicable Canadian securities laws of four months, which will expire on August 6, 2013.
About Anterra Energy Inc.
Anterra Energy is an independent exploration, development and production company with an emerging focus on the use of advanced exploration technologies including 3-D imaging, horizontal drilling and multi-stage completions to systematically develop its portfolio of conventional and non-conventional oil and gas projects. Complementing this strong exploitation and development focus, the Company owns and operates fee-based midstream facilities in western Canada. Anterra is a public Canadian company listed on the TSXV under the symbol AE.A. More information about Anterra is available on the Company’s website at www.anterraenergy.com.
Reader Advisory:
This news release contains certain forward-looking statements, which include assumptions with respect to future operations. The reader is cautioned that assumptions used in the preparation of such information may prove to be incorrect. All such forward-looking statements involve substantial known and unknown risks and uncertainties, certain of which are beyond the Company’s control. Such risks and uncertainties include, without limitation, risks associated with oil and natural gas exploration, development, exploitation, production, marketing and transportation, volatility of commodity prices, availability of drilling rigs and other services, delays resulting from or inability to obtain required regulatory approvals and ability to access sufficient capital from internal and external sources, the impact of general economic conditions in Canada and the United States, industry conditions, changes in laws and regulations (including the adoption of new environmental laws and regulations) and changes in how they are interpreted and enforced, the lack of availability of qualified personnel or management, fluctuations in foreign exchange or interest rates, and stock market volatility. The Company’s actual results, performance or achievements could differ materially from those expressed in, or implied by, these forward-looking statements and, accordingly, no assurances can be given that any of the events anticipated by the forward-looking statements will transpire or occur, or if any of them do, what benefits, including the amount of proceeds, the Company will derive there from. Readers are cautioned that the foregoing list of factors is not exhaustive.
Anterra Energy Inc.
Gang Fang
Chief Executive Officer
(403) 261-6601
(403) 215-2383
fangg@anterraenergy.com
Anterra Energy Inc.
Owen C. Pinnell
Chairman
(403) 261-6601
(403) 215-2427
pinnello@anterraenergy.com