Anterra Corporation

Anterra Corporation

March 27, 2006 08:30 ET

Anterra Announces Revised Equity Financing Terms

CALGARY, ALBERTA--(CCNMatthews - March 27, 2006) - Anterra Corporation (TSX VENTURE:ATR) ("Anterra" or the "Company") advises that it has agreed to revise the terms of the private placement to be conducted with the assistance of Haywood Securities Inc. ("Haywood").

As previously announced on February 16, 2006, Anterra entered into an equity financing agreement with Haywood to raise $2 million, subject to an over-allotment option of an additional $500,000. Under the amended agreement, Haywood will place, on a best efforts basis, 1,666,667 flow-through shares at a price of $0.60 per flow-through share and 2,000,000 units at a price of $0.50 per unit for aggregate proceeds of $2,000,000 (the "Offering"). Each unit consists of one common share and one half of one common share purchase warrant. Each whole warrant is exercisable into one common share at an exercise price of $0.75 for a period of 18 months from the closing date. In addition, Haywood has the option to sell up to an additional $250,000 of flow through shares and up to $250,000 of units at their respective issue prices prior to the closing date. It is anticipated that directors and officers of Anterra will participate in the Offering, which is scheduled for Closing on or about April 5, 2006. The use of proceeds is to supplement cash flow as a source of working capital for the 2006 capital expenditure program.

Anterra Corporation ("Anterra") is an emerging energy company with a focus on the exploration and exploitation of oil and gas reserves and the development of associated fee-based projects in Western Canada. Anterra is a public Canadian company listed on the TSX Venture Exchange under the symbol ATR and currently operates through its two wholly owned subsidiaries; Anterra Resources Inc. and Anterra Midstream Inc. More information about Anterra is available on the internet at

This news release contains forward-looking information related to the planned drilling program, production and operating costs. These statements are based on current expectations that involve a number of risks and uncertainties, which could cause actual results to differ from those anticipated. These risks include, but are not limited to, risks associated with the oil and gas industry (eg. operational risks in development, exploration and production; delays or changes in plans with respect to exploration or development projects or capital expenditures; the uncertainty of estimates in relation to reserves, production and expenses; and health, safety and environmental risks).

Common Shares Outstanding: 23,865,000

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.

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