ARCTIC HUNTER COMPLETES SECOND AND FINAL TRANCHE OF PRIVATE PLACEMENT
Release Date: April 9th, 2014:
VANCOUVER, B.C. – Arctic Hunter Energy Inc. (TSX-V: AHU) (the “Company”) is pleased to announce that it has completed the second and final tranche of its previously announced non-brokered private placement. The Company will issue a further 1,760,000 units of the Company at a price of $0.05 per unit for gross proceeds of $88,000. The Company has raised an aggregate of $448,000 pursuant to both tranches of the private placement and issued a total of 8,960,000 units.
Each unit is comprised of one common share and one common share purchase warrant. Each warrant is exercisable into one common share at a price of $0.10 per share for a period of two years from the date of issuance.
In connection with the second tranche, a total of $5,040 and 100,800 warrants (“Finder’s Warrants”) were paid as finders’ fees to arm’s length parties. The Finder’s Warrants are exercisable to acquire common shares of the Company at an exercise price of $0.10 per common share for a period of two years from the date of issuance.
All securities issued in this tranche of the financing are subject to hold periods expiring on August 10, 2014. Net proceeds from the offering will be used in connection with the Company’s exploration, development and drilling activities in the greater Lloydminster area of west-central Alberta & Saskatchewan.
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.
FOR FURTHER INFORMATION, PLEASE CONTACT:
Tim Coupland, President and CEO
Arctic Hunter Energy Inc.
Tel: (604) 681-3131
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the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.