Tanager Energy Inc.
TSX VENTURE : TAN

Tanager Energy Inc.

July 22, 2015 11:15 ET

Tanager Announces $225,000 Loan

CALGARY, ALBERTA--(Marketwired - July 22, 2015) - Tanager Energy Inc. ("Tanager" or the "Corporation") (TSX VENTURE:TAN) announces that John Squarek, the President, Chief Executive Officer and a director of the Corporation has provided a loan to the Corporation in the amount of $225,000, subject to approval of the TSX Venture Exchange. The loan shall be repaid on demand, bears interest at a rate of 12% per annum, payable monthly, and is secured against the real and personal property of the Corporation.

Tanager has determined that exemptions from the various requirements of the TSX Venture Exchange Policy 5.9 and Multilateral Instrument 61-101 are available in connection with the loan from Mr. Squarek (Formal Valuation - Issuer Not Listed on Specified Markets; Minority Approval - Fair Market Value Not More Than 25% of Market Capitalization).

About the Corporation

Tanager Energy Inc. is a Lethbridge, Alberta based Corporation engaged in the exploration for oil and gas and minerals. The Corporation's common shares are listed on the TSXV under the trading symbol, "TAN".

Caution Regarding Forward Looking-Statements

This press release contains certain statements which constitute forward-looking statements or information ("forward-looking statements"), including statements regarding Tanager's business, the loan and the proposed transactions. Such forward-looking statements are subject to numerous risks and uncertainties, some of which are beyond Tanager's control, including the ability of Tanager to satisfy the conditions to completion of the proposed transactions, the impact of general economic conditions, industry conditions, volatility of commodity prices, currency fluctuations, imprecision of reserve estimates, environmental risks, operational risks in exploration and development, competition from other industry participants, the lack of availability of qualified personnel or management, stock market volatility and the ability to access sufficient capital from internal and external sources. Although Tanager believes that the expectations in its forward-looking statements are reasonable, they are based on factors and assumptions concerning future events which may prove to be inaccurate. Those factors and assumptions are based upon currently available information. Such statements are subject to known and unknown risks, uncertainties and other factors that could influence actual results or events and cause actual results or events to differ materially from those stated, anticipated or implied in the forward looking information. As such, readers are cautioned not to place undue reliance on the forward looking information, as no assurance can be provided as to future results, levels of activity or achievements. The forward-looking statements contained in this document are made as of the date of this document and, except as required by applicable law, Tanager does not undertake any obligation to publicly update or to revise any of the included forward-looking statements, whether as a result of new information, future events or otherwise. The forward-looking statements contained in this document are expressly qualified by this cautionary statement.

Neither the 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 release.

Contact Information

  • Tanager Energy Inc.
    John Squarek BSc, P. Eng., MBA
    President and Chief Executive Officer
    403-388-0969
    john@tanagerenergy.com