PanTerra Announces Increase to Bought-Deal Financing from $100 Million to $130 Million

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


PanTerra Resource Corp. ("PanTerra" or the "Corporation") (TSX VENTURE:PRC) is
pleased to announce that it has increased its previously announced bought deal
financing with a syndicate of underwriters (collectively, the "Underwriters")
co-led by Desjardins Capital Markets and TD Securities Inc. (together, the
"Co-Lead Underwriters") and including Raymond James Ltd., Beacon Securities
Limited, Haywood Securities Inc., CIBC World Markets Inc., and Clarus Securities
Inc. (collectively with the Co-Lead Underwriters, the "Underwriters"), whereby
the Corporation will now issue 500,000,000 Subscription Receipts at a price of
$0.26 per Subscription Receipt for aggregate gross proceeds of $130.0 million
(the "Offering"). 


The Offering is scheduled to close on or about June 27, 2014, and is subject to
certain conditions including, but not limited to, the receipt of all necessary
approvals, including the approval of the TSX Venture Exchange.


About PanTerra

PanTerra is a diversified junior public oil and gas company listed on the TSXV
under the symbol "PRC", with holdings in both conventional and unconventional
projects in Western Canada that have excellent optimization and exploitation
potential. Corporation information can be found at: www.panterraresource.com. 


This news release does not constitute an offer to sell or the solicitation of an
offer to buy any securities in the United States, in any province or territory
of Canada or in any other jurisdiction. The securities to be offered have not
been, and will not be, registered under the United States Securities Act of
1933, as amended (the "U.S. Securities Act") or any U.S. state securities laws
and may not be offered or sold in the United States absent registration or an
available exemption from the registration requirements of the U.S. Securities
Act and applicable U.S. state securities laws. There shall be no sale of the
securities in any jurisdiction in which an offer to sell, a solicitation of an
offer to buy or a sale would be unlawful.


NEITHER 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.


SPECIAL NOTE REGARDING FORWARD-LOOKING INFORMATION 

This press release contains certain statements or disclosures relating to
PanTerra and the Offering that are based on the expectations of PanTerra as well
as assumptions made by and information currently available to PanTerra which may
constitute forward-looking information under applicable securities laws. All
such statements and disclosures, other than those of historical fact, which
address activities, events, outcomes, results or developments that PanTerra
anticipates or expects may, or will occur in the future (in whole or in part)
should be considered forward-looking information. In some cases, forward-looking
information can be identified by terms such as "forecast", "future", "may",
"will", "expect", "anticipate", "believe", "potential", "enable", "plan",
"continue", "contemplate", "pro-forma", or other comparable terminology. In
particular, this press release makes reference to the timing and completion of
the Offering and the issuance of the Subscription Receipts. Readers are
cautioned that there is no assurance that the transactions referenced herein
will proceed. Certain conditions must be met before the Offering can be
completed. Such conditions include the receipt of all necessary regulatory
approvals, including the approval of the TSXV. There is no assurance that the
required approvals will be received and there is therefore no assurance that the
Offering will be completed in the time frame anticipated or at all. Many factors
could cause the performance or achievement by PanTerra to be materially
different from any future results, performance or achievements that may be
expressed or implied by such forward-looking statements. These factors include
the failure to obtain the required approvals, including approval of the TSXV and
changes to economic conditions that prevent PanTerra from completing the
Offering. Readers are cautioned that the foregoing list of factors is not
exhaustive. The forward-looking statements contained in this press release are
expressly qualified by this cautionary statement. The Corporation is not under
any duty to update any of the forward-looking statements after the date of this
press release or to conform such statements to actual results or to changes in
the Corporation's expectations and the Corporation disclaims any intent or
obligation to update publicly any forward-looking statements, whether as a
result of new information, future events or results or otherwise, other than as
required by applicable securities laws. 


FOR FURTHER INFORMATION PLEASE CONTACT: 
PanTerra Resource Corp.
Tim deFreitas
President and CEO
403-261-5900
403-261-5902 (FAX)


PanTerra Resource Corp.
Carrie McLauchlin
VP Finance & CFO
403-261-5900
403-261-5902 (FAX)


PanTerra Resource Corp.
800, 717 - 7th Ave. S.W.
Calgary, AB, T2P 0Z3
www.panterraresource.com