CALGARY, ALBERTA – April 15, 2016 – Anterra Energy Inc. (“Anterra” or the “Company”) (TSX-V: AE.A) announces that its lender Canadian Western Bank (“CWB”) has made demand upon upon the Company as debtor, for payment in full of Anterra’s outstanding indebtedness in the aggregate amount of approximately $10.2 million by Thursday April 21, 2016. In addition CWB has provided Anterra with a Notice of Intention to Enforce Security pursuant to subsection 244(1), of the Bankruptcy and Insolvency Act.
Anterra is pursuing alternative financing, including a private placement equity issue, however, there is no assurance that the Company will be successful in securing such financing or if such a finacing can be secured prior to April 21, 2016.
In order to secure the safety of its operations , Anterra has undertaken a process of shutting-in its operated/licensed wells and facilities, with the exception of its midstream facilities at Breton.
For further information, please contact:
|Dr. Gang Fang||Norm Knecht CA|
|Chairman and Chief Executive Officer||Vice President Finance and CFO|
|Telephone: (403) 215-2383||Telephone: (403) 215-3286|
|Facsimile: (403) 261-6601||Facsimile: (403) 261-6601|
|E-mail: email@example.com||E-mail: firstname.lastname@example.org|
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this News Release.Filed under: 2016