By ahadmin January 10, 2011

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ARCTIC HUNTER COMPLETES NON-BROKERED PRIVATE PLACEMENT

Release Date: January 10, 2011

VANCOUVER, B.C. – Arctic Hunter Energy Inc. (TSX-V: AHU) (“Arctic Hunter” or the “Company”) announces that it has completed the final tranche of its previously announced non-brokered private placement. The Company issued a total of 765,000 non-flow-through units (“NFT Units”) of the Company at a subscription price of $0.20 per unit, for total gross proceeds of $153,000. Each NFT Unit consists of one common share of the Company and one-half of one share purchase warrant (“NFT Warrants”). Each whole NFT Warrant is exercisable into a common share of the Issuer at a price of $0.25 per share for a period of 12 months from the closing date.

The shares underlying the aforementioned NFT Units and any shares which may be acquired pursuant to the exercise of the NFT Warrants will be subject to resale restrictions and may not be resold until May 8, 2011.

In the aggregate, when combined with the units issued in prior closings undertaken in connection with the private placement (NR 12/31/2010), the Company issued an aggregate of 560,000 flow-through units (“FT Units”) at a price of $0.25 per unit and 1,425,000 NFT Units at a price of $0.20 per unit, for total gross proceeds of $425,000.

Finder’s fees totaling $28,400 (8% of the gross proceeds received from purchasers introduced to the Company by the finders) were paid to arm’s length parties in connection with the private placement.

The proceeds from the sale of the FT Units will be used to fund exploration on the Company’s resource properties, which will constitute Canadian exploration expenditures (as defined in the Income Tax Act (Canada)) and will be renounced for the 2010 tax year. The proceeds from the sale of the NFT Units will be used to fund exploration on the Company’s resource properties and for general and administrative expenses.
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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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