PanTerra Announces Appointment and Financing

TSX-V: PRC

CALGARY, Jan. 26 /CNW/ - PanTerra Resource Corp. ("PanTerra" or the "Company") is pleased to announce that effective immediately, Mr. Jake Pronk P. Geol has been appointed Vice President Exploration and Director. Mr. Pronk brings 35 plus years of oil and gas experience to the Company. He has been a senior executive and director of numerous public oil and gas companies.

The Company also announces that it has negotiated a private placement for 1,000,000 shares (the "Shares") at a price of $0.20 per Share for total gross proceeds of $200,000.00 (the "Offering") to certain directors of the Company.

The proceeds of the Offering will be mainly used for development activities on the Corporation's 100% held properties located in Alberta, as well as for general working capital. 

The Offering is subject to receipt of all necessary regulatory approvals. The securities issued pursuant to the Offering will be subject to a 4 month hold period in Canada from the date of the closing of the Offering.  There are no agents or finder's fees payable as a result of the Offering

PanTerra is a diversified junior public oil and gas company listed on the TSXV (PRC.V) with holdings in both conventional and unconventional projects in Western Canada. The Company has an operated production base of 75 BOPD and 200 Mcf/d gas with excellent optimization and exploitation potential.  Additionally PanTerra holds 'rights' in excess of 100,000 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.

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 PanTerra Resource Corp.

For further information:

Fred P. Rumak P.Geol.                           
President and C.E.O.
403-261-5900
Email: fred@panterraresource.com
Jake Pronk P. Geol
V.P. Exploration
403-261-5900
Email:jake@panterraresource.com

Profil de l'entreprise

PanTerra Resource Corp.

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