SOURCE: Entrada Resources Inc.

Entrada Resources Inc.

April 18, 2016 08:30 ET

Entrada Resources Announces Closing of Initial Financing

CALGARY AB--(Marketwired - April 18, 2016) - Entrada Resources Inc. ("Entrada" or the "Company") is pleased to announce the closing of its initial financing by Azimuth Capital Management

Azimuth is an experienced, leading independent energy focused private equity firm based in Calgary, Alberta. Since November 2003, Azimuth has invested with leadership teams that have a shared vision of value creation and partnership. Azimuth currently has investments in 18 portfolio companies including Entrada.

Entrada is a private company focused on acquiring and developing oil and gas assets with development potential and applying the latest technologies to optimize production rates and overall pool recoveries. Headquartered in Calgary, Alberta, the Company, with Azimuth's backing, is actively evaluating opportunities to invest significant capital to acquire a foundation asset.

The Company was founded by Dan Long, (President & CEO) a professional engineer with over 30 years of broad industry experience, including executive, technical, and board roles in public and private companies. The other founders, W. Bryant Oliver (Senior Vice President, Exploration) and James Lord (Vice President, Engineering & Business Development) are technical professionals with broad industry experience in executive, technical and operations roles in both junior and senior companies. The Entrada team has a history of successfully acquiring, developing and operating assets safely and efficiently throughout the Western Canadian Sedimentary Basin.

"We are excited to be partnering with Azimuth Capital, a leading private equity firm with a track record of successful investments," Mr. Long said. "Together, we are well positioned to capitalize on investment opportunities available in the current market.

Entrada is evaluating numerous asset sales, farm-in opportunities and joint ventures and will continue to review additional opportunities as they present themselves.

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