VANCOUVER, BRITISH COLUMBIA – Arctic Hunter Energy Inc. (TSX-V: AHU) (“Arctic Hunter” or the “Company”) – Tim Coupland, a director and officer of the Company, has acquired an additional 750,000 common shares of the Company. The 750,000 common shares acquired represent approximately 3.13% of the issued and outstanding shares of the Company on a non-diluted basis. The shares were acquired through the facilities of the TSX Venture Exchange at prices ranging from $0.025 to $0.05 per common share.
As a result of the foregoing acquisition, Mr. Coupland has direct and indirect control and direction over 4,950,500 common shares of the Company, representing approximately 20.67% of the issued and outstanding shares of the Company on a non-diluted basis, and securities (options and warrants) convertible into 3,200,000 common shares of the Company, representing approximately 11.79% of the issued and outstanding shares of the Company on a partially diluted basis. Mr. Coupland has direct and indirect control and direction over an aggregate of 8,150,500 securities of the Issuer (common shares and convertible securities) representing approximately 30.03% of the issued and outstanding shares of the Company on a partially diluted basis.
The common shares acquired will be held for investment purposes. In connection with the investment by Mr. Coupland in the common shares, Mr. Coupland may engage in communications with members of management and the Board of Directors of Arctic Hunter, other current or prospective shareholders, industry analysts, existing or potential strategic partners or competitors, investment and financing professionals, sources of credit and other investors with respect to Arctic Hunter. Mr. Coupland intends to review his investment in Arctic Hunter on a continuing basis. Depending on various factors including without limitation, the Company’s financial position, price levels of the common shares, conditions in the financial and securities markets, and general overall economic conditions, Mr. Coupland may in the future take such actions with respect to investment in Arctic Hunter as he deems appropriate including without limitation, making proposals to Arctic Hunter concerning ownership, structure of Company operations at Arctic Hunter, acquiring additional common shares, and/or selling or otherwise disposing of some or all of his common shares. In addition, Mr. Coupland may formulate other purposes, plans or proposals regarding Arctic Hunter or any of its securities to the extent deemed advisable in light of general investment trading policies, market conditions, increase or decrease in his beneficial ownership of the Company’s securities, whether in the open market, by privately negotiated agreements or otherwise, subject to a number of factors, including general market conditions and other available investment and business opportunities.
This press release is issued pursuant to National Instrument 62-104, which also requires a report to be filed with the B.C. Securities Commission, the Alberta Securities Commission and the Ontario Securities Commission containing additional information with respect to the foregoing matters.
FOR FURTHER INFORMATION, PLEASE CONTACT:
Tim Coupland, President and CEO
Arctic Hunter Energy Inc.
Tel: (604) 681-3131