PanTerra Not Proceeding With Private Placement

TSX-V: PRC

CALGARY, April 13 /CNW/ - PanTerra Resource Corp. ("PanTerra" or the "Corporation") announces that it has elected not to proceed with the private placement previously announced on February 12, 2010. Alternative financing arrangements are being considered, but no definitive agreements have been entered into. The Corporation will continue to inform shareholders of its progress as developments occur.

PanTerra Resource Corp. is an Alberta-based oil and gas company that is focused on the exploration and development of conventional and unconventional potential in Western Canada. The Corporation holds 'rights' in excess of 1,000,000 acres in various properties in Western Canada. PanTerra trades on the TSX Venture Exchange under the symbol "PRC". Company information can be found at: www.panterraresource.com.

This press release contains certain forward-looking statements within the meaning of applicable securities law. Forward-looking statements are based on the opinions and estimates of management at the date the statements are made and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking statements. The Corporation cannot assure that actual results will be consistent with these forward looking statements. They are made as of the date hereof and are subject to change and the Corporation assumes no obligation to revise or update them to reflect new circumstances, except as required by law. Prospective investors should not place undue reliance on forward looking statements.

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.

SOURCE Ikkuma Resources Corp.

For further information: For further information: Fred P. Rumak P.Geol., President and C.E.O., at (403) 261-5900, Email: fred@panterraresource.com; or Herve B. Collet, V.P. Operations, C.O.O., at (403) 261-5900, Email: herve@panterraresource.com


Custom Packages

Browse our custom packages or build your own to meet your unique communications needs.

Start today.

CNW Membership

Fill out a CNW membership form or contact us at 1 (877) 269-7890

Learn about CNW services

Request more information about CNW products and services or call us at 1 (877) 269-7890