CALGARY, ALBERTA, August 3, 2011 – Anterra Energy Inc. (“Anterra” or the “Company”) is pleased to announce that it has entered into an agreement with Burgeonvest Bick Securities Limited (“Burgeonvest”) of Toronto pursuant to which Burgeonvest has agreed, on a best efforts basis, to place up to 9,100,000 Units of Anterra at $0.22 per Unit. Each Unit will consist of one Class A share to be issued on a flow-through basis and one half of one Class A share purchase warrant. Each whole warrant will be exercisable at a price of $0.27 per share until August 31, 2012 (the “Offering”). The Offering is scheduled to close on or about August 31, 2011 and is subject to certain conditions, including but not limited to the receipt of all regulatory approvals, including the approval of the TSX Venture Exchange, and completion of due diligence by Burgeonvest. Burgeonvest will receive a commission of seven percent (7%) in cash plus seven percent (7%) broker options to purchase Class A shares of Anterra at a price of $0.22 per share until August 31, 2012.
Anterra intends to use the proceeds of the Offering for exploration projects including 3-D seismic and
drilling in Saskatchewan and Alberta. Directors and officers may participate in the Offering.
About Anterra Energy
Anterra Energy is an independent exploration, development and production company with an emerging focus on the use of advanced exploration technologies including 3-D imaging, horizontal drilling and multi-stage completions to systematically develop its portfolio of conventional and non-conventional oil and gas projects. Complementing this strong exploitation and development focus, the Company owns and operates fee-based midstream facilities in western Canada. Anterra is a public Canadian company listed on the TSXV under the symbol AE.A. More information about Anterra is available on the Company’s website at www.anterraenergy.com.
For further information, please contact:
Chief Executive Officer
Telephone: (403) 215-2383
Facsimile: (403) 261-6601
Owen C. Pinnell
Anterra Energy Inc.
Telephone: (403) 215-2427
Facsimile: (403) 261-6601
Forward Looking Statements: This news release contains forward looking statements and forward looking information based on management’s current expectations regarding the proposed private placement including, without limitation, with respect to the date for closing, the satisfaction of conditions to closing and the number of units that may be sold pursuant to the private placement. Readers are cautioned that assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be incorrect.
Neither 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 release.Filed under: 2011