ALTACANADA ENERGY CORP. ANNOUNCES SHARE CONSOLIDATION WILL OCCUR AFTER SECOND TRANCHE OF REFINANCING

CALGARY, Feb. 14 /CNW/ -- 
TSX-V SYMBOL: ANG


CALGARY, Feb. 14 /CNW/ - AltaCanada Energy Corp. (the "Company" or
 "AltaCanada") announces that its previously announced 10 for 1
 consolidation will not occur until the second tranche of its
 refinancing, as previously announced February 10, 2011, has been
 completed. This will also permit the name change of the Company to
 Montana Exploration Corp. to occur concurrently.  It is anticipated
 that the second tranche of the refinancing will occur in one or more
 closings, all of which will be completed by Friday, February 18, 2011
 and the name change and consolidation will occur shortly thereafter.


The Company is engaged in the acquisition, exploitation and production
 of crude oil and natural gas reserves in Western Canada and Montana. 
 For more information on the Company, visit www.altacanada.com.



 





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.


Caution Regarding Forward Looking Information


This press release contains forward-looking statements within the
 meaning of securities laws, including the "safe harbour" provisions of
 Canadian securities legislation and the United States Private
 Securities Litigation Reform Act of 1995.  Forward-looking information
 is often, but not always, identified by the use of words such as
 "anticipate", "believe", "expect", "plan", "intend", "forecast",
 "target", "project", "guidance", "may", "will", "should", "could",
 "estimate", "predict" or similar words suggesting future outcomes or
 language suggesting an outlook.  Forward-looking statements in this
 press release include, but are not limited to, the anticipated closing
 of the second tranche of the refinancing and the closing date thereof
 and effective date of the name change and consolidation of the Company.


Forward-looking statements and information contained in this press
 release are based on our current beliefs as well as assumptions made
 by, and information currently available to, us. Although we consider
 these assumptions to be reasonable based on information currently
 available to us, they may prove to be incorrect.


By their very nature, the forward-looking statements included in this
 press release involve inherent risks and uncertainties, both general
 and specific, and risks that predictions, forecasts, projections and
 other forward-looking statements will not be achieved. We caution
 readers not to place undue reliance on these statements as a number of
 important factors could cause the actual results to differ materially
 from the beliefs, plans, objectives, expectations and anticipations,
 estimates and intentions expressed in such forward-looking
 statements.   When relying on our forward-looking statements to make
 decisions with respect to the Company, investors and others should
 carefully consider the foregoing factors and other uncertainties and
 potential events. Furthermore, the forward-looking statements contained
 in this press release are made as of the date of this document and we
 do not undertake any obligation to update publicly or to revise any of
 the included forward-looking statements, whether as a result of new
 information, future events or otherwise, except as required by
 applicable law. The forward-looking statements contained in this press
 release are expressly qualified by this cautionary statement.


To view this news release in HTML formatting, please use the following URL: http://www.newswire.ca/en/releases/archive/February2011/15/c2770.html



table cellspacing="0" border="0"tr valign="top"tdbr/ br/ br//td tdbr/ br/ br//td tdbr/ br/ br//td tdbr/ br/ br//td td br/ Telephone:br/ Fax:br/ Email:/td tdbr/ br/ br//td tdbr/ br/ br//td tdCharles Selby, Executive Chairmanbr/ [phone] (ext 247)br/ [phone]br/ a href="mailto:[e-mail]"[e-mail]/a/td tdbr/ br/ br//td tdbr/ br/ br//td tdDon Foulkes, President & CEObr/ [phone] (ext 248)br/ [phone]br/ a href="mailto:[e-mail]"[e-mail]/a/td/tr/table

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