Antrim Energy Inc.

Antrim Energy Inc.

April 20, 2007 09:07 ET

Antrim Energy Inc. Announces "Bought Deal" Financing

CALGARY, ALBERTA and LONDON, UNITED KINGDOM--(CCNMatthews - April 20, 2007) -


Antrim Energy Inc. ("Antrim" or the "Company") (TSX:AEN)(AIM:AEY) is pleased to announce that it has entered into an agreement to sell to a syndicate of underwriters, on a "bought deal" basis, 10,000,000 common shares at a price of C$5.00 per common share for gross proceeds of C$50,000,000. The syndicate will be led by Tristone Capital Inc. and will include Blackmont Capital Inc., Wellington West Capital Markets Inc. and GMP Securities L.P., collectively (the "Underwriters"). Blackmont Capital's alliance partner Oriel Securities will act as a special selling agent. In addition, the Company has also granted to the Underwriters an over-allotment option, exercisable in whole or in part at any time until 30 days following the closing date, to purchase that number of additional common shares equal to the lesser of: (i) the underwriters' "over-allocation position" determined as at the closing; and (ii) 15% of the number of common shares sold pursuant to the offering, at an issue price of $5.00 per common share. If the over-allotment option is exercised in full, the gross proceeds of the offering will be C$57,500,000. The offering will be made in the provinces of British Columbia, Alberta, Saskatchewan, Manitoba and Ontario by way of short form prospectus. The offering is scheduled to close on or about May 10, 2007.

Antrim plans to use the net proceeds of this offering to fund development of its international oil and gas assets and for general corporate purposes. The offering represents approximately 10.5% of the common shares outstanding prior to the offering.

This news release shall not constitute an offer to sell or the solicitation of any offer to buy the securities in any jurisdiction. The common shares may be offered or sold in other eligible foreign jurisdictions and to U.S. buyers on a private placement basis pursuant to an applicable exemption from registration requirements in Rule 144-A or Regulation D of the United States Securities Act of 1933, as amended

Reader Advisory

This news release contains certain forward-looking statements, which include assumptions with respect to (i) funds to be raised in a financing; and (ii) future capital expenditures. The reader is cautioned that assumptions used in the preparation of such information 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. Please refer to the Company's Annual Information Form for the year ended December 31, 2006 and dated March 30, 2007 and available for viewing at, for a list of risk factors. The Company's actual results 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 so, what benefits, including the amount of proceeds, that the Company will derive therefrom. All subsequent forward-looking statements, whether written or oral, attributable to the Company or persons acting on its behalf are expressly qualified in their entirety by these cautionary statements. Furthermore, 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 Canadian securities laws and AIM Rules in the UK.

Updated information about Antrim can be accessed on its website:

The TSX has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

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