VANCOUVER, B.C. – Arctic Hunter Energy Inc. (TSX-V: AHU) (“Arctic Hunter” or the “Company”) is pleased to announce that it has successfully closed its ( non-brokered private placement of 1,000,000 units of the Company, at a subscription price of $0.05 per Unit, for total gross proceeds of CDN $50,000. Each Unit will consist of one (1) common share and one (1) common share purchase warrant, each warrant exercisable at a price of $0.10 for a period of three (3) years from the date of issuance. All of the securities issued in the private placement will be subject to resale restrictions in accordance with applicable securities laws, pursuant to which they may not be sold or transferred until
Dec 8, 2020. The Company intends to use the proceeds of the Offering for any new costs associated with due diligence with respect to the acquisition of new exploration assets, outstanding legal, accounting costs and general working capital while it continues to carefully monitor the general public health impacts and financial impacts of Covid-19, on its assets and partners in industry.
ABOUT ARCTIC HUNTER – OIL AND GAS PRODUCTION & MINERAL EXPLORATION The Company is a Canadian Oil & Gas exploration and mining resource development Company that is focused in developing its’ production capabilities, obtaining potential future oil production revenues, discovering and acquiring advanced gold, silver and copper mineral concessions. The Company identifies, acquires and finances the acquisition, exploration and development of mining and oil and gas assets primarily situated in Western Canada, the United States and Mexico. The Company is currently reviewing a number of mineral exploration opportunities, situated in Canada and identifying low risk exploration opportunities through selective acquisitions and development of mining, petroleum and natural gas resource assets situated in these favorable resource jurisdictions. The Company has qualified management and has Oil & Gas and Mining teams of professionals seasoned in production, field exploration and drilling. The Company has the necessary manpower in place to develop its natural resource properties and manage its production properties. The Company is committed to minimizing risk through the selective acquisition, exploration and development of petroleum and natural gas resource and mining assets.
FOR FURTHER INFORMATION, PLEASE CONTACT:
Tim Coupland, President and CEO
Arctic Hunter Energy Inc.
Tel: (604) 681-3131
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