Tuesday, 21 May 2013 05:35 PM
May 21, 2013 - Vancouver - Terra Nova Energy Ltd. ("Terra Nova") announces that it has completed the shares for debt transaction previously announced on May 3, 2013. In accordance with the terms of the debt settlement agreement, Terra Nova issued 875,000 common shares at a deemed price of $0.11 per share to Apex Energy Consultants Ltd. to extinguish approximately $95,000 of debt. The shares issued by Terra Nova pursuant to this transaction are subject to a four month hold period expiring on September 16, 2013.
About Terra Nova Energy Ltd.
Terra Nova Energy Ltd. is a Calgary based oil and gas company with a right to acquire up to a 55% working interest in two onshore petroleum exploration licenses ("PELs"), being PEL 112 and PEL 444, located on the western flank of the Cooper Eromanga Basin in the State of South Australia, Australia. Its common shares trade on the TSX Venture Exchange under the symbol "TGC".
For more information please contact:
Terra Nova Energy Ltd.
Henry E. Aldorf
Acting Chief Executive Officer
Telephone +65 65070213
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.