By ahadmin October 05, 2009

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ARCTIC HUNTER COMPLETES NON-BROKERED PRIVATE PLACEMENT

Release Date: October 5, 2009

VANCOUVER, B.C. – Arctic Hunter Energy Inc. (TSX-V: AHU) (“Arctic Hunter” or the “Company”) announces that it has completed its previously announced non-brokered private placement of 3,000,000 units of the Company at a subscription price of $0.20 per unit, for total gross proceeds of (CDN) $600,000. Each unit consists of one (1) common share of the Company and one share purchase warrant. Each warrant entitles the holder to purchase one additional Common share of the Company at an exercise price of $0.25 per share for a period of three years from closing.

Shares purchased pursuant to the private placement and any shares which may be acquired pursuant to the exercise of warrants will be subject to resale restrictions and may not be resold until February 6, 2010, unless appropriate prospectus and registration exemptions are available to permit resale.

In connection with the private placement, the Company paid finder’s fees to arm’s length finders in the amount of 10% of the total funds raised.

The proceeds from the offering will be used for general working capital purposes. The units will be subject to resale restrictions.
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ABOUT ARCTIC HUNTER ENERGY

The Company is a Canadian Oil & Gas exploration and development Company that acquires and finances the acquisition, exploration and development of oil and gas assets primarily in Western Canada. The Company is a junior heavy oil producer in the greater Lloydminster area of Alberta & Saskatchewan. The Company is constantly reviewing future production and exploration opportunities through selective property acquisitions and identifying low risk exploration drilling activities.

The Company has qualified management and has an Oil & Gas team of professionals seasoned in field exploration and drilling. The Company has the resources and necessary manpower to develop its natural resource and production properties. The Company is committed to minimizing risk through the selective acquisition, exploration and development of petroleum and natural gas resource assets. The Company intends to increase its oil production and reserves through its exploration activities and strategic property acquisitions.
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FOR FURTHER INFORMATION, PLEASE CONTACT:

Tim Coupland, President and CEO
Arctic Hunter Energy Inc.
Tel: (604) 681-3131

astar@telus.com

or

Robert Hall, Director
Arctic Hunter Energy Inc.
Tel: (604) 681-3131

rthall@shaw.ca

Neither the TSX Venture Exchange nor its Regulation Services Provider, (as the 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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