American Natural Energy Corporation Announces Payment of Finder's Fee
Feb 20, 2012, 17:02 ET
TULSA, Okla., Feb. 20, 2012 /CNW/ - American Natural Energy Corporation ("ANEC") (TSX Venture: ANR.U) announced that finder's fees were paid in conjunction with the financing previously announced on February 1, 2012. ANEC paid fees of $50,000 in cash and issued 732,235 shares of common stock and a total of 596,000 share purchase warrants of ANEC, each such warrant exercisable into one share of common stock of ANEC for a period of five year from the date of issuance. Of the 596,000 share purchase warrants, 500,000 are exercisable at a price of $0.10 and 96,000 are exercisable at $0.25 per share. A total of 15,928,895 shares are outstanding after the issuance of these shares.
The shares of common stock and the share purchase warrants, as well as any shares issued upon the exercise thereof, will be subject to a four month hold period and may not be traded until June 18, 2012, except as permitted by applicable Canadian securities laws and the policies of the TSX Venture Exchange.
The securities were issued in reliance upon the exemption from the registration requirements of the US Securities Act of 1933, as amended (the "Act"), afforded by Regulation D and Section 4(2) and pursuant to Regulation S under the Act. The securities may not be reoffered or resold by the purchasers absent registration under the Act or an applicable exemption from the registration requirements of the Act.
ANEC is a Tulsa, Oklahoma based independent exploration and production company with operations in St. Charles Parish, Louisiana. For further information please contact Michael Paulk, CEO at 918-481-1440 or Steven P. Ensz, CFO at 281-367-5588.
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.
This Press Release may contain statements which constitute forward-looking statements within the meaning of the US Private Securities Litigation Reform Act of 1995 and "forward-looking information" within the meaning of Canadian securities laws, including statements regarding the plans, intentions, beliefs and current expectations of ANEC, its directors, or its officers with respect to the future business, well drilling and operating activities and performance of ANEC. Forward-looking statements also include the plans and intentions of ANEC to offer and sell shares of its Common Stock, its ability to complete such a transaction and the intended use of proceeds. Investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties. The actual results and outcome of events may differ materially from those in the forward-looking statements as a result of various factors. The levels of and fluctuations in the prices for natural gas and oil and the demand for those commodities, the outcome of ANEC's development and exploration activities, including the success of its current and proposed well drilling activities and the availability of capital to pursue those activities could affect ANEC and its future prospects. ANEC's inability to raise additional capital would adversely affect its ability to pursue its drilling program and its liquidity. Important additional factors that could cause such differences are described in ANEC's periodic reports and other filings made with the Securities and Exchange Commission and may be viewed at the Commission's Website at http://www.sec.gov.
SOURCE American Natural Energy Corporation
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