BRIEF-Anterra Energy announces CCAA protection and cease trade orders

Fri May 6, 2016 6:28pm EDT
 
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May 6 (Reuters) - Anterra Energy Inc :

* Anterra Energy Inc announces CCAA protection and cease trade orders

* Arranged for a $2.5 million interim convertible loan which lender has agreed may be used to fund CCAA process and for related expenses

* Anterra's efforts to pursue strategic alternatives has been severely hindered by unprecedented downturn in oil and gas industry in Alberta

* Board will maintain its usual role under supervision of Pricewaterhousecoopers inc. As court-appointed monitor

* Obtained creditor protection under companies' creditors arrangement act

* Board of directors will maintain its usual role and management will remain responsible for company's day-to-day operations

* Continues to explore a number of alternatives, including a sale of company and repayment of all creditors Source text for Eikon: Further company coverage: (Bengaluru Newsroom: +1-646-223-8780)