Arctic Hunter Closes $250,000 Private Placement
ARCTIC HUNTER ENERGY INC.
NEWS RELEASE
May 2, 2018 TSX-V Trading Symbol: AHU
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ARCTIC HUNTER CLOSES $250,000 PRIVATE PLACEMENT
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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 previously announced (January 18, 2018) non-brokered private placement of 2,500,000 units of the Company, at a subscription price of $0.10 per Unit, for total gross proceeds of CDN $250,000. Each Unit will consist of one (1) common share and one (1) common share purchase warrant, each warrant exercisable at a price of $0.15 for a period of two (2) 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 September 3, 2018.
The proceeds will be used for ongoing project costs and general working capital.
ABOUT ARCTIC HUNTER – OIL AND GAS PRODUCTION
The Company is a current Canadian Oil & Gas producer, exploration and mining resource development Company that is focused on developing its production capabilities, obtaining potential future production revenues, discovering and advancing its oil & gas assets and mining assets. The Company is continually reviewing oil & gas and any future mining production and exploration opportunities, by identifying low risk exploration 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. The Company is continually reviewing future production and exploration opportunities, through selective property acquisitions and identifying low risk exploration drilling activities situated in Canada, the United States, Mexico and abroad.
FOR FURTHER INFORMATION, PLEASE CONTACT:
Tim Coupland, President and CEO Arctic Hunter Energy Inc.
Tel: (604) 681-3131 [email protected]
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.