Mr. Tim Coupland reports
ARCTIC HUNTER ANNOUNCES NON-BROKERED PRIVATE PLACEMENT
Arctic Hunter Energy Inc. has reserved up to two million common shares in the capital of the company in connection with a non-brokered private placement of units of the company, to be issued at a subscription price of five cents per unit, for total gross proceeds of up to $100,000. Each unit will consist of one common share and one common share purchase warrant, with each warrant exercisable at a price of 10 cents per share for a period of two years from the date of issuance. The private placement is subject to approval from the TSX Venture Exchange, and all of the securities issued pursuant to the private placement will be subject to a four-month hold period from the date of issue, in accordance with applicable securities laws.
The company has agreed to pay a finder's fee to arm's-length parties for services in respect of the unit offering. The finder's fee will consist of a cash fee equal to 8 per cent of the gross proceeds of the unit offering.
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