Landdrill International Inc. issues notice of call for claims

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

MONCTON, NB, March 26, 2013 /CNW/ - Landdrill International Inc. (the "Company") (TSXV: LDI) today announced that it is issuing notice to CREDITORS and others in respect of claims against current and former directors and officers (collectively, the "Directors and Officers") of:

LANDDRILL INTERNATIONAL INC. (A BRITISH COLUMBIA CORPORATION),
LANDDRILL INTERNATIONAL LTD. (A NEW BRUNSWICK CORPORATION),
LANDDRILL ATLANTIC LTD. (A NEW BRUNSWICK CORPORATION),
LANDDRILL CONTRACT MINING LTD. (A NEW BRUNSWICK CORPORATION),
LANDDRILL INTERNATIONAL MEXICO S.A. DE C.V. (A MEXICAN CORPORATION),
LANDDRILL INTERNATIONAL LLC (A MONGOLIAN CORPORATION) AND
LANDDRILL INTERNATIONAL INC. (A BARBADOS CORPORATION)
(collectively, the "Applicants")

In the matter of the companies' creditors arrangement act, R.S.C. 1985, c. C-36, as amended notice of D&O claims solicitation procedure and D&O claims bar date for D&O claims against the directors and officers pursuant to the companies' creditors arrangement act (the "CCAA")

PLEASE TAKE NOTICE that this notice is being published pursuant to an order of the Honorable Chief Justice Smith of the Court of Queen's Bench of New Brunswick (Trial Division), Judicial District of Moncton, dated March 20, 2013 (the "D&O Claims Solicitation Procedure Order"). Capitalized terms not defined within this notice shall have the meaning ascribed thereto in the D&O Claims Solicitation Procedure Order.

Any person who believes that it has a claim against a Director or Officer should send a D&O Proof of Claim to Ernst & Young Inc., in its capacity as the Court-appointed Monitor of the Applicants, to be received by 5:00 p.m. (Atlantic Daylight Savings Time) on April 15, 2013 or such other later date as may be ordered by the Court (the "D&O Claims Bar Date").

D&O claims for which D&O proofs of claim are not received by the D&O claims bar date will be barred and extinguished forever.

Claimants who require a D&O Proof of Claim form may obtain a copy of this form from the Monitor's website at http://www.ey.com/ca/landdrill or may contact Ernst & Young Inc., in its capacity as the Court-appointed Monitor of the Applicants, (Attention: Ingo Eckoldt, Telephone: [phone], Fax: [phone] and email: [email protected]), to obtain a D&O Proof of Claim form and Instruction Letter.

Claimants may file their D&O Proof of Claim with the Monitor by mail, fax, email, courier or hand delivery, so that the D&O Proof of Claim is actually received by the D&O Claims Bar Date at the address below:

Address of Monitor:
Ernst & Young Inc.
In its capacity as Monitor of Landdrill International Inc. et al.
11 Englehart Street, Dieppe, NB E1A 7Y7
Attention: Ingo Eckoldt
Telephone: [phone]
Facsimile: [phone]
Email: [email protected]
Dated at Moncton, NB this 26th day of March, 2013.

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 22 drills with full branch operations in Mexico and Russia.

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 and include statements in respect of the timing for completion of the second tranche of the Offering. These statements are based on the Company's expectations, estimates, forecasts and projections. They are not guarantees of future performance and involve risks and uncertainties that are difficult to control or predict. 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.

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.

SOURCE: LANDDRILL INTERNATIONAL INC.

Ronald Goguen
President and Chief Executive Officer
Landdrill International Inc.
(506) 388 - 8100
www.landdrill.com

Renmark Financial Communications Inc.
John Bodiman: [email protected]
Peter Mahzari: [email protected]
Tel.: [phone] or [phone]
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