Antrim Energy Inc. ATGYF

News - convertible debentures

[crackiedog]

I wonder what effect this will have on the sp?

Crackie

Antrim Energy Inc. Offers US$100 Million of Convertible Debentures

Wed May 28, 10:41 PM

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CALGARY, ALBERTA and LONDON, UNITED KINGDOM--(Marketwire - May 28, 2008) - Antrim Energy Inc. ("Antrim" or the "Corporation") (TSX: AEN.TO)(AIM: AEY) announced today that it has entered into an agreement with a syndicate of agents co-led by Wellington West Capital Markets Inc. and RBC Capital Markets and including Cormark Securities Inc. and Research Capital Corporation, (the "Agents") regarding a private placement offering of up to US$100 million aggregate principal amount of senior unsecured convertible debentures (the "Debentures").

The final terms of the Debentures are expected to be finalized on or about May 29, 2008. The Offering is subject to certain conditions including the approval of the Toronto Stock Exchange.

The Debentures are being offered by way of a private placement in certain provinces of Canada as agreed between the Agents and the Corporation and in the United States on a private placement basis pursuant to an exemption from the registration requirements of the United States Securities Act of 1933, as amended (the "U.S. Securities Act").

Antrim plans to use the net proceeds from this financing to fund its appraisal and development projects and for corporate working capital. The offering is expected to close on or about June 18, 2008 and is subject to certain conditions including, but not limited to, the receipt of all necessary regulatory approvals.

This press release is not for distribution to United States newswire services or for dissemination in the United States. This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the U.S. Securities Act or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.

Certain statements contained in this press release, including statements regarding the Corporation's expectations regarding the process for conducting and completing the offering of the Debentures and statements regarding the planned use of the proceeds of the Debentures, may be considered as "forward looking". Such "forward looking" statements are subject to risks and uncertainties that could cause actual results to differ materially from estimated or implied results.

Updated information about Antrim can be accessed on its website: www.antrimenergy.com.

The TSX has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

Contacts

Stephen Greer
Antrim Energy Inc.
President & CEO
[phone]
[phone] (FAX)
Email: [e-mail]

Anthony J. Potter
Antrim Energy Inc.
Chief Financial Officer
[phone]
[phone] (FAX)
Email: [e-mail]
Website: www.antrimenergy.com