CALGARY, ALBERTA--(Marketwired - March 17, 2014) -
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Antrim Energy Inc. ("Antrim" or "the Company") (TSX:AEN)(AIM:AEY), an international oil and gas exploration and production company, today announced that it has amended its Payment and Oil Swap agreements with Credit Suisse AG ("CSAG") and Credit Suisse International, respectively, (collectively, "CS") to allow for completion of the previously announced sale of Antrim Resources (N.I.) Limited (the "Transaction") to First Oil Expro Limited ("FOE"). Under the terms of the amendment, the Transaction (which is to be voted on at a Special Meeting of shareholders on April 4, 2014) is to be completed by April 15th, 2014.
Full details of the Transaction are included in a management information circular and related proxy materials of the Company dated February 24, 2014 (collectively, the "Circular") which have been mailed to Antrim shareholders in accordance with applicable securities laws. As previously announced, the Board of Directors of Antrim, after consultation with its financial and legal advisors, has unanimously determined that the Transaction is in the best interests of Antrim Shareholders and that the Transaction provides a number of benefits to Antrim Shareholders. The Board of Directors unanimously recommends that Antrim shareholders vote their Antrim Shares in favour of the Transaction. A copy of the Circular is available electronically on the internet on Antrim's SEDAR profile at www.sedar.com and is also posted on Antrim's website. Shareholders who require assistance in voting their proxy may direct their inquiries to Antrim's proxy solicitation agent, CST Phoenix Advisors, toll-free in North America at 1 (800) 311-0721 or internationally by dialing 1-201-806-2222 collect or by email at email@example.com.
Antrim Energy Inc. is a Canadian, Calgary based junior oil and gas exploration and production company with assets in the UK North Sea and Ireland. Antrim is listed on the Toronto Stock Exchange (AEN) and on the London Stock Exchange's Alternative Investment Market (AEY). Visit www.antrimenergy.com for more information.
Forward-Looking and Cautionary Statements
This press release contains certain forward-looking statements and forward-looking information which are based on Antrim's internal reasonable expectations, estimates, projections, assumptions and beliefs as at the date of such statements or information. Forward-looking statements often, but not always, are identified by the use of words such as "seek", "anticipate", "believe", "plan", "estimate", "expect", "targeting", "forecast", "achieve" and "intend" and statements that an event or result "may", "will", "should", "could" or "might" occur or be achieved and other similar expressions. These statements are not guarantees of future performance and involve known and unknown risks, uncertainties, assumptions and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking statements and information. Antrim believes that the expectations reflected in those forward-looking statements and information are reasonable but no assurance can be given that these expectations will prove to be correct and such forward-looking statements and information included in this press release and any documents incorporated by reference herein should not be unduly relied upon. Such forward-looking statements and information speak only as of the date of this press release or the particular document incorporated by reference herein and Antrim does not undertake any obligation to publicly update or revise any forward-looking statements or information, except as required by applicable laws.
In particular, this press release contains specific forward-looking statements and information pertaining to the anticipated benefits of the Transaction to Antrim and the anticipated timing of the Transaction. In respect of the forward-looking information and statements concerning the anticipated benefits and completion of the proposed Transaction, Antrim has provided such in reliance on certain assumptions that it believes are reasonable at this time, including assumptions as to the ability of Antrim to receive, in a timely manner, the necessary government, regulatory, securityholder, and other third party approvals; and the ability of Antrim to satisfy, in a timely manner, the other conditions to the closing of the Transaction. In respect to these assumptions, the reader is cautioned that assumptions used in the preparation of such information may prove to be incorrect. Accordingly, readers should not place undue reliance on the forward-looking information and statements contained in this press release.
Since forward-looking information and statements address future events and conditions, by their very nature they involve inherent risks and uncertainties. Actual results could differ materially from those currently anticipated due to a number of factors and risks. Risks and uncertainties inherent in the nature of the Transaction include the failure of Antrim to obtain necessary securityholder, government, regulatory, and other third party approvals, or to otherwise satisfy the conditions to the Transaction, in a timely manner, or at all. Failure to so obtain such approvals, or the failure of Antrim to otherwise satisfy the conditions to the Transaction, may result in the Transaction not being completed on the proposed terms, or at all. As described in the Circular, failure to complete the Transaction within the timeline anticipated or failure to complete the Transaction at all could result in serious financial consequences for Antrim.
Please refer to "Risk Factors" in the Circular for further details. Readers are cautioned that this list of risk factors should not be construed as exhaustive.