Anderson Energy Ltd.
TSX : AXL

Anderson Energy Ltd.

September 27, 2013 17:00 ET

Anderson Energy Ltd. Confirms Extension of Credit Facility

CALGARY, ALBERTA--(Marketwired - Sept. 27, 2013) - Anderson Energy Ltd. ("Anderson" or the "Company") (TSX:AXL) confirms that the maturity date of its existing bank credit facilities has been extended to October 31, 2013 to accommodate the closing of the sale of the Garrington and Ferrier assets which was announced on September 16, 2013 and is scheduled to close in October 2013. Proceeds from the sale of assets will be used to repay all of the Company's current outstanding bank debt. The extension of the bank credit facilities is subject to the completion of customary loan documentation. The terms of a new credit facility will be announced when available.

FORWARD-LOOKING STATEMENTS

Certain statements in this news release including, without limitation, management's assessment of future plans and operations; expected proceeds from the sale of assets and use thereof; timing of completion of asset sales and of new credit facilities may constitute "forward-looking information" within the meaning of applicable securities legislation and necessarily involve risks and assumptions made by management of the Company, many of which are beyond the Company's control. The impact of any one risk, uncertainty or factor on a particular forward-looking statement is not determinable with certainty as the factors are interdependent, and management's future course of action would depend on its assessment of all information at the time. As a consequence, actual results may differ materially from those anticipated in the forward-looking statements and readers should not place undue reliance on the assumptions and forward-looking statements. Additional information on the risks and other factors that could affect Anderson's operations and financial results are included in reports on file with Canadian securities regulatory authorities and may be accessed through the SEDAR website (www.sedar.com) or at Anderson's website (www.andersonenergy.ca).

The forward-looking statements contained in this news release are made as at the date of this news release and the Company does not undertake any obligation to update publicly or to revise any of the included forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required by applicable securities laws.

Contact Information

  • Anderson Energy Ltd.
    Brian H. Dau
    President & Chief Executive Officer
    (403) 262-6307
    (403) 261-2792 (FAX)
    www.andersonenergy.ca