Arctic Hunter Announces Effective Date of Share Consolidation
ARCTIC HUNTER ENERGY INC.
Suite 1610 - 675 West Hastings Street · Vancouver · British Columbia · V6B 1N2 Telephone: (604) 681-3131
NEWS RELEASE
November 22, 2016 TSX-V Trading Symbol: AHU
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ARCTIC HUNTER ANNOUNCES EFFECTIVE DATE OF SHARE CONSOLIDATION ____________________________________________________________________________________
Vancouver, British Columbia - Arctic Hunter Energy Inc. (TSX-V: AHU) (the “Company”) announces that the TSX Venture Exchange has approved a share consolidation of the outstanding share capital of the Company on the basis of four (4) pre-consolidation common shares for one (1) new post-consolidated common share (the “Consolidation”). The Consolidation will be effective at the open of the market on Wednesday, November 23, 2016. The Company’s name and trading symbol will remain unchanged.
As a result of the Consolidation, the Company’s currently issued and outstanding 29,365,000 common shares will be reduced to 7,341,250 common shares after rounding adjustments. No fractional common shares will be issued as a result of the Consolidation. All fractional common shares resulting from the Consolidation will be rounded down to the nearest whole number of common shares. The Company’s outstanding incentive stock options and warrants will be adjusted on the same basis (4:1) to reflect the Consolidation in accordance with their respective terms, with proportionate adjustments being made to exercise prices.
Registered shareholders will receive a letter of transmittal from the Company’s transfer agent, Computershare Investor Services Inc., providing instructions on how to exchange their share certificates representing pre- Consolidation common shares for new share certificates or Direct Registration Advice (DRS) representing post- Consolidation common shares to which they are entitled as a result of the Consolidation. No action is required by non-registered shareholders (shareholders who hold their common shares through an intermediary) to effect the Consolidation.
ABOUT ARCTIC HUNTER ENERGY
The Company is a Canadian Mineral exploration and Oil & Gas exploration and development Company that identifies, acquires and finances the acquisition, exploration and development of oil and gas assets primarily situated in Western Canada. The Company is a junior heavy oil producer in the greater Lloydminster area of Alberta & Saskatchewan. The Company is constantly reviewing future production and exploration opportunities through selective property acquisitions and identifying low risk exploration drilling activities situated in Canada, the United States and abroad.
The Company has qualified Mining management and has an Oil & Gas team of professionals seasoned in production, field exploration and drilling. The Company has the resources and necessary manpower in place to develop its natural resource and production properties. The Company is committed to minimizing risk through the selective acquisition, exploration and development of petroleum and natural gas resource assets. The Company intends to increase its oil production and reserves through its exploration activities and strategic property acquisitions.
FOR FURTHER INFORMATION, PLEASE CONTACT:
Tim Coupland, President and CEO Arctic Hunter Energy Inc.
Tel: (604) 681-3131 [email protected]
or
Ted Burylo, Director Arctic Hunter Energy Inc.
Tel: (604) 506-6602
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.