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.
[expand title=”Advisories & Contact”]FORWARD-LOOKING STATEMENTS
Certain statements in this news release including, without limitation, Anderson’s intentions with respect to the Series A Debentures may constitute “forward-looking information” within the meaning of applicable securities laws and necessarily involve risks and assumptions made by management of the Company including, without limitation, risks associated with oil and gas exploration, development, exploitation, production, marketing and transportation; ability of Anderson’s common shares to remain listed on the TSX; the receipt, in a timely manner, of regulatory approval for the transaction; and other factors, many of which are beyond the Company’s control. The impact of any one risk, uncertainty or factor on a particular forward-looking statement is not determinable with certainty as the factors are interdependent, and management’s future course of action would depend on its assessment of all information at the time. As a consequence, actual results may differ materially from those anticipated in the forward-looking statements and readers should not place undue reliance on the assumptions and forward-looking statements. Readers are cautioned that the foregoing list of factors is not exhaustive. Additional information on these and other factors that could affect Anderson’s operations and financial results are included in reports on file with Canadian securities regulatory authorities and may be accessed through the SEDAR website (www.sedar.com) or at Anderson’s website (www.andersonenergy.ca).
The forward-looking statements contained in this news release are made as at the date of this news release and the Company does not undertake any obligation to update publicly or to revise any of the included forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required by applicable securities laws.
Anderson Energy Inc.
Brian H. Dau
President & Chief Executive Officer
(403) 262-6307
info@andersonenergy.ca
www.andersonenergy.ca
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