CALGARY,
Feb. 14, 2013 /CNW/ - Terrex
Energy Inc. ("Terrex" or the "Company") (TSX-V: TER) is pleased
to announce that further to its press release dated December 21, 2012 announcing the proposed
business combination (the "Arrangement") between Terrex and Anterra
Energy Inc. ("Anterra") (TSX-V: AE.A), the special meeting of
Terrex shareholders and warrantholders (the "Meeting") is scheduled
to be held on March 13, 2013, and the
closing of the Arrangement is expected to occur on or about
March 14, 2013. A management
information circular of Terrex describing the Arrangement is
expected to be mailed on or before February
20, 2013 to the shareholders and warrantholders of Terrex as
of the record date of February 11,
2013. Further details regarding the Arrangement and
related matters will be contained in the Information Circular.
ABOUT TERREX
Terrex Energy Inc. is a Calgary based junior oil company that focuses
on the application of proven enhanced oil recovery ("EOR") methods
to improve oil production from existing mature fields. Terrex
targets underexploited and undercapitalized light to medium oil
reservoirs in Western Canada. The
Company's shares are listed on the TSX Venture Exchange under the
trading symbol "TER".
ADVISORIES
Forward-Looking Information
This News Release contains forward-looking
information within the meaning of applicable Canadian securities
laws. All information other than historical fact is forward-looking
information. Forward-looking information relates to future events
or future performance and is based on Terrex's current internal
expectations, estimates, projections, assumptions and beliefs.
Forward-looking information is often, but not always, identified by
the use of words such as "expect", "project", "proposed", "intend",
"seek", "anticipate", "budget", "plan", "continue", "estimate",
"forecast", "may", "will", "predict", "potential", "targeting",
"could", "might", "should", "believe" and similar expressions.
Although management considers the assumptions
and estimates, reflected in forward-looking information, to be
reasonable, based on information currently available, there can be
no assurance that such information will prove to be correct. As a
consequence, actual results may differ materially from those
anticipated.
In particular, this News Release contains
forward-looking information the timing and anticipated receipt of
required regulatory, court and securityholder approvals for the
Arrangement; timing of mailing of the management information
circular, the ability of Anterra and Terrex to satisfy the other
conditions to, and to complete, the Arrangement; the anticipated
timing of the holding of the Terrex Meeting and the closing of the
Arrangement.
Undue reliance should not be placed on
forward-looking information which is inherently uncertain, and
subject to known and unknown risks and uncertainties (both general
and specific) that contribute to the possibility that the future
events or circumstances contemplated by the forward looking
information will not occur. These risks include, but are not
limited to the risk that the disclosed dates relating to the
Meeting and the Arrangement may change for a number of reasons,
including inability to secure necessary securityholder, government,
regulatory, court or other third party approvals in the time
assumed or the need for additional time to satisfy the other
conditions to the completion of the Arrangement.
Readers are cautioned that the foregoing list of
factors that may affect future results is not exhaustive.
The forward-looking statements contained in this
news release are made as of the date hereof and Terrex does not
undertake any obligation to update publicly or to revise any of the
included forward-looking statements, except as required by
applicable law. The forward-looking statements contained herein are
expressly qualified by this cautionary statement.
Neither the TSX Venture Exchange nor its
Regulation Service 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 Terrex Energy Inc.