/NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN
The Rights Offering will be made in each of the provinces of
The Corporation has received conditional approval from the
The Common Shares are expected to commence trading on the TSXV on an ex-rights basis at the opening of business on
Subscribers in the previously announced non-brokered private placement as provided for in the reorganization agreement dated
Pursuant to the requirements under applicable securities legislation, a rights offering circular of the Corporation dated
Registered shareholders wishing to exercise their rights must forward the completed rights certificates along with the applicable funds to the subscription agent for the Rights Offering,
Rights certificates will not be issued and forwarded by PanTerra to holders of Common Shares not resident in the Qualifying Jurisdictions. Instead, Rights otherwise issuable to such holders will be issued to and held, as agent, by the Subscription Agent, which will use its reasonable commercial efforts to sell the Rights on behalf of all such holders prior to the Expiry Date and then forward the net proceeds pro rata to such holders.
Completion of the Rights Offering is subject to receiving all necessary regulatory approvals, including, but not limited to, the TSXV.
PanTerra is a diversified junior public oil and gas company listed on the TSXV under the symbol "PRC", with holdings in both conventional and unconventional projects in
Forward-Looking and Cautionary Statements
This news release may include forward-looking statements including opinions, assumptions, estimates, and, more particularly, statements concerning the completion of the Rights Offering and the number of securities issued by way of the Rights Offering.
When used in this document, the words "will," "anticipate," "believe," "estimate," "expect," "intent," "may," "project," "should," and similar expressions are intended to be among the statements that identify forward-looking statements.
The forward-looking statements are founded on the basis of expectations and assumptions made by PanTerra which include, but are not limited to, the timing of the receipt of the required, regulatory and third party approvals, as well as the satisfaction of other conditions pertaining to the completion of the Rights Offering.
Forward-looking statements are subject to a wide range of risks and uncertainties, and although PanTerra believes that the expectations represented by such forward-looking statements are reasonable, there can be no assurance that such expectations will be realized.
Any number of important factors could cause actual results to differ materially from those in the forward -looking statements including, but not limited to, regulatory and third party approvals not being obtained in the manner or timing anticipated, the ability to implement corporate strategies, the state of domestic capital markets, the ability to obtain financing, changes in general market conditions and other factors more fully described from time to time in the reports and filings made by PanTerra with securities regulatory authorities.
Except as required by applicable laws, PanTerra does not undertake any obligation to publicly update or revise any forward-looking statements.
This press release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities described herein. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act"), or any state securities laws and may not be offered or sold within
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