CALGARY, ALBERTA–(Marketwired – May 10, 2016) – Anderson Energy Inc. (“Anderson” or the “Company”) (TSX:AXL) announces that pursuant to an extraordinary resolution voted on and passed by the holders of the Company’s 7.25% Series B convertible unsecured subordinated debentures due June 30, 2017 (the “Series B Debentures”), the Company has now met the closing conditions and, effective May 10, 2016, has exchanged both the entire principal amount ($46.0 million) and the interest that would otherwise have accrued on the Series B Debentures to June 30, 2016 ($1.67 million) for 8,427,537,410 common shares of the Company issued from treasury. All further claims of the debentureholders have been extinguished. The Company now has approximately 17.772 billion common shares outstanding and plans to propose a special resolution to approve a share consolidation at an annual and special meeting of shareholders to be held on June 14, 2016.