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
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.
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