Anterra Announces First Closing of Private Placement and Commencement of Drilling in SW Saskatchewan

CALGARY, ALBERTA--(Marketwire - Oct. 10, 2008) - NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN THE U.S. Anterra Energy Inc. ("Anterra" or the "Company") (TSX VENTURE:AE.A)(TSX VENTURE:AE.B) is pleased to announce that the Company has closed the first tranche of its previously announced $2 million flow-through financing (the "Offering") and commenced drilling its first Lower Shaunavon horizontal well in southwest Saskatchewan. Through the Offering, an aggregate of 2,233,025 Class A shares were issued on a flow-through basis at $0.30 per share for gross proceeds of $669,908. An aggregate of 546,358 shares were issued to a number of Anterra directors. The shares are subject to a hold period under applicable securities laws of four months, expiring on February 9, 2009. Proceeds will be used to incur Canadian... [read full story]