Arctic Hunter Announces Amendment to $750,000 Non-Brokered Private Placement
ARCTIC HUNTER ENERGY INC.
Suite 1200 - 750 West Pender Street ∙ Vancouver ∙ British Columbia ∙ V6C 2T8
Telephone: (604) 681-3131
NEWS RELEASE
October 28, 2020 TSX-V Trading Symbol: AHU
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ARCTIC HUNTER ANNOUNCES AMENDMENT
TO $750,000 NON-BROKERED PRIVATE PLACEMENT
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VANCOUVER, B.C. – Arctic Hunter Energy Inc. (TSX -V: AHU) (“ Arctic Hunt er” or the
“Company”) announces that it has increased the size of its non-flow through private placement and will
not be proceeding with the flow through portion of the private placement previously announced on
October 8, 2020. The Company will raise gross proceeds of up to C$750,000 (the “Offering ”) through
the issuance of up to 5,000,000 non-flow through units (the “ Units”) consisting of one common share
and one warrant . Each warrant entitles the holder to purchase one common share in the capital of the
Company at an exercise price of $0.25 per share for a period of three years from the date of issuance.
All other terms of the Offering remain unchanged.
As previously announced on October 26, 2020, the Company has closed the first tranche of the Offering
for gross proceeds of C$457,500 through the issuance of an aggregate of 3,050,000 Units . The
Company anticipates closing the balance of the Offering in the next 14 days. The Company still
anticipates carrying out a flow -through financing prior to December 31, 2020, with terms to be
negotiated and announced in mid-November.
Gross proceeds from the Offering will be used by the Company for exploration work planned to take
place during the 2020- 2021 field season on its 14,800- hectare Trans Canada Gold Proj ect situated near
the Dryden gold district in Northwest Ontario Canada. The Company intends to use the balance of the
proceeds of the Offering for any new costs associated with the acquisition and exploration of the
Company’s new gold exploration assets, legal and accounting costs and general working capital.
Trans Canada Gold Project – The Dinorwic Gold Property
The Trans-Canada Gold Property consists of 741 non- surveyed contiguous mineral cell claims totaling
14,880 hectares located within the Kenora M ining Division of Ontario. The property is located within
the Wabigoon Greenstone Belt, which also contains the Thunder Lake Gold deposit and the Goldlund
Gold Deposit. The Property contains a number of large shear zones containing quartz carbonate veins ,
pyrite and arsenopyrite, underlain by mafic volcanics with felsic volcanics in the south. There is a large
regional scale iron carbonate alteration within the property, which is considered to be similar to that of
the Red Lake Mining Camp. The regional s cale Carbonate alteration within the property associated with
shear zones within iron-tholeiite are prime targets for gold exploration.
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A number of gold exploration targets have been identified within the property based on their association
with regional alteration, known gold showings, shear zones, complex patterns and offsets in the regional
magnetic map as well as spatial association with regional structures.
Colin Bowdidge, Ph.D., P.Geo., a Qualified Person as defined by National Instrument 43- 101, has
reviewed and approved of the technical information disclosed in the news release.
ABOUT ARCTIC HUNTER – GOLD MINERAL EXPLORATION /OIL AND GAS
PRODUCTION
The Company is a Canadian Gold and Mineral exploration and Oil & Gas Resource Development
Company, that is currently focused in developing its’ District Scale Gold exploration project in Ontario,
and increasing its production capabilities, obtaining potential future oil production revenues. The
Company identifies, acquires and finances the acquisition of gold exploration properties and the ongoing
development of mining and oil and gas assets primarily situated in Canada, a time -honored safe mineral
exploration jurisdiction. The Company is currently reviewing a number of District Scale gold mineral
exploration property opportunities, and identifying low risk exploration opportunities through selective
acquisitions and development of mining exploration assets situated in these favorable resource
jurisdictions. The Company has qualified Senior exploration management and Geological Mining teams
of professionals, seasoned in exploration 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 property acquisitions and
responsible exploration and development of mining and petroleum and natural gas resource assets.
FOR FURTHER INFORMATION, PLEASE CONTACT:
Tim Coupland, President and CEO
Arctic Hunter Energy Inc.
Tel: (604) 681-3131
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.