Anterra Corporation

Anterra Corporation

April 07, 2006 15:04 ET

Anterra Completes $2.2 Million Equity Financing

CALGARY, ALBERTA--(CCNMatthews - April 7, 2006) - Anterra Corporation (TSX VENTURE:ATR) ("Anterra" or the "Company") announces that it has completed its previously announced financing for aggregate gross proceeds of $2,176,300. Haywood Securities Inc. acted as agent.

Anterra issued 1,873,833 common shares on a flow-through basis at $0.60 per share and 2,104,000 units at $0.50 per unit. Each unit consists of a common share and one half of a common share purchase warrant. An aggregate of 3,977,833 common shares and 1,052,000 warrants were issued as units. Each whole warrant is exercisable into one common share at an exercise price of $0.75 until October 7, 2007. Under the terms of the agency agreement respecting the financing, Anterra granted to Haywood and members of its selling group warrants to purchase an aggregate of 238,670 common shares at an exercise price of $0.60 until April 7, 2007. All of the securities issued under the financing are
subject to a four month hold period ending August 8, 2006.

Directors and officers of Anterra acquired an aggregate of 254,999 flow-through shares and 50,000 units under the financing. There are now 27,842,833 common shares of Anterra outstanding. Anterra intends to use the proceeds of the financing 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).

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

Contact Information