Mr. Colin Bowkett reports
ARCHER UPDATES STATUS OF MANAGEMENT CEASE TRADE ORDER
Further to the news
release dated May 4, 2015, the B.C. Securities Commission issued a
management cease trade order on March 31, 2015, against certain of Archer Petroleum Corp.'s insiders for the corporation's failure to file its annual financial statements, management's discussion and
analysis, and related chief executive officer and chief financial officer certificates for its fiscal year
ended Nov. 30, 2014. The corporation is required to provide biweekly status updates and in
accordance with National Policy 12-203 (cease trade orders for continuous disclosure defaults) until
the MCTO has been revoked or a full cease trade issued.
The corporation was not in a position to file its required filings within the required time due to a lack
of funds that prevented the corporation from being able to engage its auditor.
Pursuant to the requirements of Section 4.4 of National Policy 12-203, the corporation reports that as of the
date hereof:
- There have been no material changes to the information contained in the default notice, and the
corporation reasonably expects to file the required filings on or about May 30, 2015.
- There have been no failures with respect to the corporation fulfilling its stated intentions of
satisfying the requirements of filing the required filings.
- The corporation does not have knowledge of any specified, or anticipated, default subsequent to
the default which is the subject of the default notice.
- Other than as disclosed herein, there is no other material information about the affairs of the
corporation that has not otherwise been generally disclosed.
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