News

Oct 26, 2007 - 07:28 ET Antrim Energy Inc. Announces $50.2 Million Financing

CALGARY, ALBERTA and LONDON, UNITED KINGDOM--(Marketwire - Oct. 26, 2007) - 

NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN THE U.S.

Antrim Energy Inc. ("Antrim" or the "Corporation") (TSX:AEN)(AIM:AEY) announced today that it has entered into an agreement with a syndicate of underwriters led by Wellington West Capital Markets Inc. and including Tristone Capital Inc. and Cormark Securities Inc. (the "Underwriters") pursuant to which the Underwriters have agreed to purchase 8,300,000 common shares (the "Common Shares") of the Corporation on a bought deal basis, at a price of $6.05 per Common Share (the "Issue Price") for aggregate gross proceeds of $50,215,000.

The Underwriters have the option to purchase from the Corporation up to an additional 1,245,000 Common Shares at the Issue Price at any time prior to 30 days following the closing of the Offering for further gross proceeds of up to $7,532,250. The Common Shares to be issued under the Offering will be offered by way of a short form prospectus in the provinces of British Columbia, Saskatchewan, Alberta, Manitoba and Ontario and such other provinces of Canada (except Quebec) as the Underwriters and the Corporation may agree 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 exploration and development projects and for corporate working capital. The offering is expected to close on or about November 15, 2007 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 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. 

FOR FURTHER INFORMATION PLEASE CONTACT:

Antrim Energy Inc.
Stephen Greer
President & CEO
(403) 264-5111
(403) 264-5113 (FAX)
Email: greer@antrimenergy.com

or

Antrim Energy Inc.
Anthony J. Potter
Chief Financial Officer
(403) 264-5111
(403) 264-5113 (FAX)
Email: potter@antrimenergy.com
Website: www.antrimenergy.com