CALGARY, Alberta, April 09, 2018 (GLOBE NEWSWIRE) — Tanager Energy Inc. (“Tanager” or the “Corporation”) (TSX-V:TAN) (OTCQB:TANEF) announced today that it has received notice from Haloroc Energy Inc. that it is withdrawing its capital commitment to subscribe for common shares in the amount of US$10 million in connection with the proposed acquisition, private placement and related transactions announced on March 27, 2018. Tanager intends to continue its efforts to source other capital for the purpose of completing a transaction with Titan Chalk, Inc. that would permit it to acquire some or all of the Austin Chalk mineral leases. Based in part on the level of capital commitments that are secured, it is expected that the proposed acquisition may also need to be restructured.
Tanager Energy Inc. is an oil and natural gas and mineral exploration company headquartered in Calgary, Alberta, with executive offices in Houston, Texas. The Corporation’s common shares are listed on the TSX Venture Exchange under the trading symbol “TAN” and on the OTCQB as “TANEF”.