Pan Terra Industries Inc.

Pan Terra Industries Inc.

April 09, 2007 10:32 ET

Pan Terra Announces Private Placement

CALGARY, ALBERTA--(CCNMatthews - April 9, 2007) - Pan Terra Industries Inc. (NEX BOARD:PNT.H) (the "Corporation"), is pleased to announce a non-brokered private placement of up to 11,000,000 Units at $0.10 per Unit for gross proceeds of $1,100,000. Each Unit will consist of one common share and one-half common share purchase warrant. Each full warrant entitles the holder to purchase one additional common share of the Corporation at a purchase price of 25 cents per common share twelve months from the closing of the sale of Units. A finders fee of 10% will be payable in connection with the private placement.

The funds raised under the offering are to be used for debt reduction and to assist the Corporation in identifying a suitable transaction that will enable the Corporation to meet the minimum listing requirements of the TSXV. The Corporation has not identified any potential transaction at this time. It is anticipated that the private placement will close within two weeks. The transaction is subject to customary regulatory approval and all common shares and warrants will be subject to a standard four-month hold period.

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of the information contained herein. Certain information regarding the Corporation contained herein may constitute forward-looking statements under applicable securities laws. Such statements are subject to known or unknown risks and uncertainties that may cause actual results to differ materially from those anticipated or implied in the forward-looking statements.

Contact Information

  • Pan Terra Industries Inc.
    Don Sandford
    Chief Executive Officer
    (403) 251-9233
    (403) 251-9244 (FAX)