Welcome to Tanager Energy
For Immediate Release TSX Venture Exchange: TAN
Tanager Energy Inc. $275,000 Private Placement Update.
October 7, 2014 – Calgary, Alberta – Tanager Energy Inc. ("Tanager" or the "Corporation")
advises that Viking Investments Group, Inc. (“Viking”) (OTC: VKIN), has subscribed for
3,437,500 units at a price of $0.08 per share for gross proceeds of $275,000 subject to final
approval of the TSX Venture Exchange. Each Unit consists of one (1) common share and one
(1) common share purchase warrant. Each warrant entitles its holder thereof to purchase one
additional common share in the capital of Tanager for a period expiring on October 5, 2016, at
an exercise price of $0.15 per common share. The shares issued in connection with the private
placement will be subject to a four month hold period that expires on February 5, 2015.
Viking intends, in addition to the above-mentioned subscription, to provide additional capital to
Tanager in exchange for a 50% working interest in an oil and gas property located in Alberta,
Canada (the “WI Purchase”). Tanager will operate and manage the subject property in
accordance with an Operating Agreement pursuant to the Canadian Association of Petroleum
Landman Operating Procedure. It is expected that the WI Purchase will be completed by
October 30, 2014. Once completed Tanager will proceed immediately to re-complete the first
well on this property, which is expected to initially produce approximately 100 barrels of oil per
Tanager and Viking are also evaluating additional oil and gas properties for acquisition within
the next 6-12 months.
Tanager Energy Inc. is a Lethbridge, Alberta based corporation engaged in the exploration for
oil and gas and minerals, with an operations office in Calgary, Alberta. The Corporation's
common shares are listed on the TSX Venture Exchange under the trading symbol "TAN".
For further information please contact:
John Squarek BSc, P. Eng., MBA
President and Chief Executive Officer
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture
Exchange) accepts responsibility for the adequacy or accuracy of this release.
TANAGER ENERGY INC. is a small-sized Canadian oil and natural gas company headquartered in Lethbridge, Alberta. The company acquires and develops resource-rich oil and natural gas producing properties in Western Canada, and sells its production to a variety of refineries and marketers within the North American commodity market.
TANAGER is a publicly owned company. Its stock is listed and traded on the Toronto Stock Exchange under the symbol “TAN”.