TSX-V: AE.A - Last: CAD$0.00 | OTCQX: ATERF - Last: US$

Anterra Energy Announces Demand by Lender to Repay Outstanding Indebtedness

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:   fangg@anterraenergy.com E-mail:   norm.knecht@anterraenergy.com

 

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Filed under: 2016
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