VANCOUVER, BRITISH COLUMBIA --(Marketwired - Dec. 23, 2013 ) - Anthem Works Ltd. ("Anthem") announces pursuant to National Instrument 62-103 that on December 19, 2013 , it acquired ownership and control of an additional 3,333,333 common shares (the "Common Shares") of Nextraction Energy Corp. (the "Company") through a non-brokered private placement and loan conversion transaction with the Company. The Common Shares were acquired pursuant to the conversion of $500,000 of outstanding loans owed by the Company to Anthem at a deemed price of $0.15 per Common Share. The Common Shares acquired by Anthem pursuant to this transaction represent approximately 10.3% of the Company's current issued and outstanding share capital of 42,462,408 common shares. Anthem now beneficially owns a total of 4,383,333 common shares and 1,050,000 common share purchase warrants (the "Warrants"), which represent approximately 12.5% of the Company's issued and outstanding share capital assuming the exercise of all of the Warrants. Anthem is a private company controlled by Eric H. Carlson , who is also a director and Chairman of Nextraction Energy Corp. Mr. Carlson is also the controlling shareholder of Anthem Capital Corp. and Carmax Enterprises Corp. , which are related parties to Anthem. Mr. Carlson holds and controls directly or indirectly through these related parties, 1,746,960 common shares, 16,666 warrants and 140,000 stock options (the "Options") of the Company. Assuming exercise of all of the Warrants and Options, Anthem and these related parties would collectively hold and control 7,336,959 common shares of the Company, representing 16.8% of the Company's then 43,669,071 common shares outstanding. In addition, immediately following completion of the loan conversion, the Company will have a remaining outstanding balance of approximately $375,000 pursuant to the bridge loans provided by Anthem and the noted related parties above. The Common Shares were acquired through the loan conversion for investment purposes. It is Anthem and the other related parties intention to evaluate its investment in the Company from time to time and may, based on such evaluation of market conditions and other circumstances, increase or decrease shareholdings in the Company as circumstances require. READER ADVISORY Cautionary Note Regarding Forward Looking Statements Certain statements made and information contained herein may constitute "forward-looking statements" or "forward-looking information" within the meaning of applicable securities legislation. Often, but not always, forward-looking statements or information can be identified by the use of words such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes" or variations of such words and phrases or words and phrases that state or indicate that certain actions, events or results "may", "may have", "could", "would", "might" or "will" be taken, occur or be achieved. Although management believes that the assumptions made and the expectations represented by such statements or information are reasonable, there can be no assurance that a forward-looking statement or information herein will prove to be accurate. Forward- looking statements and information by their nature are based on assumptions and involve known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements, or industry results, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. These statements speak only as of the date of this News Release and are expressly qualified, in their entirety, 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. FOR FURTHER INFORMATION PLEASE CONTACT: Ed Cheung VP Corporate Affairs (604) 689-3040 Source: Anthem Works Ltd.
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