Landdrill International Inc. - Announces C$3.75 million First Tranche Closing

MONCTON, NB, July 29, 2011 /CNW/ -- 
NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR FOR DISSEMINATION IN
 THE U.S.


MONCTON, NB, July 29, 2011 /CNW/ - Landdrill International Inc. (TSXV:LDI) ("Landdrill" or the "Company") is pleased to announce that it has completed a $3.75 million first
 closing of its previously announced non-brokered private placement
 offering of up to $5 million of 10% subordinated unsecured convertible
 debentures.  The debentures issued upon the first closing are subject
 to a hold period expiring November 30, 2011.  The Company paid a cash
 finder's fee of 6% to a finder in respect of $1.25 million of the first
 closing proceeds.


The Company expects to complete one or more additional closings of the
 offering and the concurrent term debt facility over the next week.


The securities offered have not been and will not be registered under
 the U.S. Securities Act, as amended, or any state securities laws, and
 may not be offered or sold in the United States absent registration or
 an applicable exemption from such registration requirements. This press
 release shall not constitute an offer to sell or the solicitation of an
 offer to buy the securities in the United States or in any jurisdiction
 in which such offer, sale or solicitation would be unlawful.


About Landdrill


Landdrill is a growth oriented international drilling company with a
 focus on the metals and minerals industry. The Company continues to
 explore opportunities for growth in key markets, either through
 establishment of new branch offices or through acquisitions as
 opportunities arise.  The Company now has 54 drills with full branch
 operations in Canada, Mexico, Mongolia and Russia.


Landdrill is a forward looking company that has drilled in Canada,
 Mexico and Asia.  Our people have drilled at altitudes over 15,000 feet
 and in temperatures ranging from -50 degrees Celsius to +50 degrees
 Celsius. 


We view all our customers as partners in every venture because we know
 that their success ensures our future!


We offer customized drilling programs to meet your every need and we
 always look forward to our next challenge.


For detailed information on Landdrill International Inc., or to request
 a bid submission for your project, please visit our website at www.landdrill.com


Forward-looking information


This press release may contain forward-looking statements (within the
 meaning of applicable securities laws) relating to business of
 Landdrill International Inc. (the "Company") and the environment in which it operates. Forward-looking statements
 are identified by words such as "believe", "anticipate", "expect",
 "intend", "plan", "will", "may" and other similar expressions. These
 statements are based on the Company's expectations, estimates,
 forecasts and projections. Although the Company believes the
 expectations expressed in such forward-looking statements are based on
 reasonable assumptions, including, without limitation that all terms of
 the contracts will be fulfilled in their entirety, such statements are
 not guarantees of future performance and actual results may differ
 materially from those in forward looking statements. Factors that could
 cause the actual results to differ materially from those in
 forward-looking statements include commodity prices, availability of
 personnel, materials and equipment, actual performance of equipment and
 processes relative to specifications and expectations, unanticipated
 environmental impacts and continued availability of capital and
 financing and general economic, market or business conditions. These
 risks and uncertainties are discussed in the Company's regulatory
 filings available at www.sedar.com.


There can be no assurance that forward-looking statements will prove to
 be accurate as actual outcomes and results may differ materially from
 those expressed in these forward-looking statements. Readers,
 therefore, should not place undue reliance on any such forward-looking
 statements. Further, a forward-looking statement speaks only as of the
 date on which such statement is made. The Company undertakes no
 obligation to publicly update any such statement or to reflect new
 information or the occurrence of future events or circumstances, except
 as required by law.



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.


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p align="justify" Ronald Goguenbr/ President and Chief Executive Officerbr/ Landdrill International Inc.br/ (506) 388 - 8961 /p p bRenmark Financial Communications Inc./bbr/ John Boidman: a href="http://www.landdrill.com" cr="true"[e-mail]/abr/ Peter Mahzari: a href="http://www.landdrill.com" cr="true"[e-mail]/abr/ Tel.: [phone] or [phone]br/ a href="http://www.landdrill.com" cr="true"www.renmarkfinancial.com/a /p 

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