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Anterra Energy Completes $7 Mln Financing With LandOcean; Shares Climb 20%

Anterra Energy Inc. (AE-A.V) said that the previously announced financing with LandOcean Energy Services Co. Ltd of Beijing, China has now been completed.

LandOcean's subsidiary, LandOcean Resources Investment Canada Co. Ltd., has acquired 107,692,308 Class A shares of Anterra at a price of $0.065 per share, which represents 27.6% of Anterra's outstanding Class A shares. LandOcean's nominees, Gengwen Sun and Chengfeng Tang, have been appointed as directors to Anterra's board.

AE-A hiked 20% to 3 cents, trading slightly above 52-week low $0.025.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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