ALTACANADA ENERGY CORP. ANNOUNCES SHARE CONSOLIDATION WILL OCCUR AFTER SECOND TRANCHE OF REFINANCING

TSX-V SYMBOL: ANG

CALGARY, Feb. 14 /CNW/ - AltaCanada Energy Corp. (the "Company" or "AltaCanada") announces that its previously announced 10 for 1 consolidation will not occur until the second tranche of its refinancing, as previously announced February 10, 2011, has been completed. This will also permit the name change of the Company to Montana Exploration Corp. to occur concurrently.  It is anticipated that the second tranche of the refinancing will occur in one or more closings, all of which will be completed by Friday, February 18, 2011 and the name change and consolidation will occur shortly thereafter.

The Company is engaged in the acquisition, exploitation and production of crude oil and natural gas reserves in Western Canada and Montana.  For more information on the Company, visit www.altacanada.com.

 

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.

Caution Regarding Forward Looking Information

This press release contains forward-looking statements within the meaning of securities laws, including the "safe harbour" provisions of Canadian securities legislation and the United States Private Securities Litigation Reform Act of 1995.  Forward-looking information is often, but not always, identified by the use of words such as "anticipate", "believe", "expect", "plan", "intend", "forecast", "target", "project", "guidance", "may", "will", "should", "could", "estimate", "predict" or similar words suggesting future outcomes or language suggesting an outlook.  Forward-looking statements in this press release include, but are not limited to, the anticipated closing of the second tranche of the refinancing and the closing date thereof and effective date of the name change and consolidation of the Company.

Forward-looking statements and information contained in this press release are based on our current beliefs as well as assumptions made by, and information currently available to, us. Although we consider these assumptions to be reasonable based on information currently available to us, they may prove to be incorrect.

By their very nature, the forward-looking statements included in this press release involve inherent risks and uncertainties, both general and specific, and risks that predictions, forecasts, projections and other forward-looking statements will not be achieved. We caution readers not to place undue reliance on these statements as a number of important factors could cause the actual results to differ materially from the beliefs, plans, objectives, expectations and anticipations, estimates and intentions expressed in such forward-looking statements.   When relying on our forward-looking statements to make decisions with respect to the Company, investors and others should carefully consider the foregoing factors and other uncertainties and potential events. Furthermore, the forward-looking statements contained in this press release are made as of the date of this document and we do not undertake any obligation to update publicly or to revise any of the included forward-looking statements, whether as a result of new information, future events or otherwise, except as required by applicable law. The forward-looking statements contained in this press release are expressly qualified by this cautionary statement.

SOURCE AltaCanada Energy Corp.

For further information:













 
Telephone:
Fax:
Email:






Charles Selby, Executive Chairman
(403) 265 9091 (ext 247)
(403) 262 8866
info@altacanada.com






Don Foulkes, President & CEO
(403) 265 9091 (ext 248)
(403) 265 9021
info@altacanada.com

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AltaCanada Energy Corp.

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