CALGARY, ALBERTA--(Marketwired - Aug. 26, 2013) - Anterra Energy Inc. ("Anterra" or the "Company") (TSX VENTURE:AE.A) (OTCQX:ATERF) is pleased to announce that the previously announced financing with Huisheng Group Co. Ltd. ("Huisheng") of Hebei, China has now been completed. Huisheng has acquired 106,060,606 Class A common shares of Anterra at a price of $0.066, which represents 21.3% of Anterra's issued and outstanding Class A common shares. Huisheng now holds 107,360,606 shares of Anterra, representing 21.6% of Anterra's issued and outstanding Class A common shares.
Huisheng's nominee, Mr. Guangzhen Song, will be nominated as a director of Anterra, for election at the Company's next annual shareholders' meeting.
Huisheng has acquired the shares of Anterra for investment purposes. Anterra intends to use the proceeds of the financing for general working capital purposes. The Company paid Wise Light Consulting Ltd. a cash fee of $350,000 and issued 1,000,000 common share purchase warrants. The warrants have an exercise price of $0.10 and will expire on August 21, 2015. The securities issued under the offering (including the Class A common shares and the warrants) are all subject to a hold period under applicable Canadian securities laws of four months, which will expire on December 23, 2013.
About Anterra Energy Inc.
Anterra is an independent oil focused junior exploration and production company with an expanding presence in the Western Canadian Sedimentary Basin. The Company is actively engaged in the acquisition, development and production of oil and natural gas complemented by the operation of fee-based midstream facilities. The Company is a public Canadian company listed on the TSXV under the symbol "AE.A" and traded on the OTCQX International under the symbol "ATERF". Additional information is available on the Company's website at www.anterraenergy.com.
This news release contains forward-looking statements respecting the proposed use of the proceeds of the Huisheng financing as well as the appointment of Huisheng's nominee as director. Anterra has provided the forward-looking statements in reliance on assumptions that it believes are reasonable at this time. The reader is cautioned that the assumptions used in the preparation of the forward-looking statements may prove to be incorrect. All such forward-looking statements involve substantial known and unknown risks and uncertainties, certain of which are beyond the Company's control. Such risks and uncertainties include, without limitation, shareholder approval for the appointment of Huisheng's nominee to the board of directors of Anterra, risks associated with oil and natural gas exploration, development, exploitation, production, marketing and transportation, volatility of commodity prices, availability of drilling rigs and other services, delays resulting from or inability to obtain required regulatory approvals and ability to access sufficient capital from internal and external sources, the impact of general economic conditions in Canada and the United States, industry conditions, changes in laws and regulations (including the adoption of new environmental laws and regulations) and changes in how they are interpreted and enforced, the lack of availability of qualified personnel or management, fluctuations in foreign exchange or interest rates, and stock market volatility. The actual results, performance or achievements could differ materially from those expressed in, or implied by, these forward-looking statements and, accordingly, no assurances can be given that any of the events anticipated by the forward-looking statements will transpire or occur, or if any of them do, what benefits, including the amount of proceeds, the Company will derive there from. Readers are cautioned that the foregoing list of factors is not exhaustive.
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 News Release.