Anderson Energy Ltd.
TSX : AXL

Anderson Energy Ltd.

April 24, 2007 09:01 ET

Anderson Energy Ltd. Announces Closing of Bought Deal Financing

CALGARY, ALBERTA--(CCNMatthews - April 24, 2007) -

NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE U.S.

Anderson Energy Ltd. ("Anderson")(TSX:AXL) announced today that is has closed its previously announced $30 million bought deal financing. In addition, the underwriters have exercised the over-allotment option for $4.5 million. Anderson has therefore issued and sold 7,935,000 common shares at a price of $4.35 per common share for total gross proceeds of approximately $34.5 million (the "Offering").

The Offering was made on a bought deal basis pursuant to an underwriting agreement with a syndicate of underwriters co-lead by Cormark Securities Inc. and BMO Nesbitt Burns Inc. and including RBC Dominion Securities Inc., Tristone Capital Inc. and GMP Securities L.P.

Proceeds of the Offering will be used to fund Anderson's capital program and for working capital purposes.

Certain statements made herein contain forward-looking information, including statements concerning the anticipated use of proceeds. Although Anderson believes these statements to be reasonable, the assumptions upon which they are based may prove to be incorrect.

Contact Information

  • Anderson Energy Ltd.
    Brian Dau
    President & Chief Executive Officer
    (403) 206-6000