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Anderson Energy Ltd. confirms that the maturity date of its existing bank credit facilities has been extended to October 31, 2013 to accommodate the closing of the sale of the Garrington and Ferrier assets which was announced on September 16, 2013 and is scheduled to close in October 2013.
Proceeds from the sale of assets will be used to repay all of the Company's current outstanding bank debt. The extension of the bank credit facilities is subject to the completion of customary loan documentation. The terms of a new credit facility will be announced when available.
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