Stockwatch

Arctic Hunter Energy Inc (2)
Symbol	AHU
Shares Issued	18,175,350
Close 2020-07-07	C$ 0.06
Market Cap	C$ 1,090,521
Recent Sedar Documents

Arctic Hunter arranges $50,000 private placement

2020-07-10 14:12 ET - News Release

Subject: Arctic Hunter Energy Inc. - News Release PDF Document File: Attachment NR_2020July10_AHU.pdf ARCTIC HUNTER ENERGY INC. Suite 1200 - 750 West Pender Street Vancouver British Columbia V6C 2T8 Telephone: (604) 681-3131 NEWS RELEASE July 10, 2020 TSX-V Trading Symbol: AHU ______________________________________________________________________________________ ARCTIC HUNTER ANNOUNCES $50,000 NON-BROKERED PRIVATE PLACEMENT ____________________________________________________________________________________ VANCOUVER, B.C. Arctic Hunter Energy Inc. (TSX-V: AHU) ("Arctic Hunter" or the "Company") announces a non-brokered private placement financing of 1, 000,000 units (the "Units") at a price of CDN $0.05 per Unit to raise gross proceeds of up to CDN $50, 000 (the "Offering"). 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 per share for a period of two (3) 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 finders' fee to arm's length parties for services rendered in respect of the Offering. The finder's fee will consist of a cash fee equal to 6% of the gross proceeds of the Offering and finder's warrants equal in number to 6% of the units sold under the Offering. Each finder's warrant will entitle the holder to acquire one common share of the Company at a price of $0.10 per share for a period of two (3) years from the date of issuance. 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 has been carefully monitoring the impacts, and general public health impacts and financial impacts of Covid-19, on its assets and partners in industry. In addition to other prospectus exemptions commonly relied on in private placements, the Offering will be available to existing shareholders of the Company who, as of the close of business on July 9, 2020, held common shares of the Company (and who continue to hold such common shares as of the closing date), pursuant to the prospectus exemption set out in BC Instrument 45-534 - Exemption From Prospectus Requirement for Certain Trades to Existing Security Holders and in similar instruments in other jurisdictions in Canada (the "Existing Shareholder Exemption"). The Existing Shareholder Exemption limits a shareholder to a maximum investment of CAD$15,000 in a 12-month period unless the shareholder has obtained advice regarding the suitability of the investment and, if the shareholder is resident in a jurisdiction of Canada, that advice has been obtained from a person that is registered as an investment dealer in the jurisdiction. If the Company receives subscriptions from investors relying on the Existing Shareholder Exemption exceeding the maximum Offering, the Company may adjust the subscriptions received on a pro-rata basis. 2 The Company will also make the Offering available to certain subscribers pursuant to BC Instrument 45-536 - Exemption from Prospectus Requirement for Certain Distributions Through an Investment Dealer (the "Investment Dealer Exemption"). In accordance with the requirements of the Investment Dealer Exemption, the Company confirms that there is no material fact or material change about the Company that has not been generally disclosed. 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, 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 astar@telus.com 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.