Arctic Hunter Announces Non-Brokered Private Placement ____________________________________________________________________________________
ARCTIC HUNTER ENERGY INC.
Suite 1610 - 675 West Hastings Street · Vancouver · British Columbia · V6B 1N2 Telephone: (604) 681-3131
NEWS RELEASE
June 1, 2016 TSX-V Trading Symbol: AHU
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ARCTIC HUNTER ANNOUNCES NON-BROKERED PRIVATE PLACEMENT ____________________________________________________________________________________
VANCOUVER, B.C. - Arctic Hunter Energy Inc. (TSX-V: AHU) (“Arctic Hunter” or the “Company”) announces that it has reserved up to 1,000,000 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 $0.05 per Unit, for total gross proceeds of up to $50,000. 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 (2) 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 in respect of the Unit Offering. The finder’s fee will consist of a cash fee equal to 8% of the gross proceeds of the Unit Offering.
The Company continues to review a number of highly prospective advanced stage mining and oil & gas production and exploration opportunities. The management of the Company continues to be highly selective while considering its review of the various opportunities being presented.
ABOUT ARCTIC HUNTER ENERGY
The Company is a Canadian 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 management and has an Oil & Gas team of professionals seasoned in production, field exploration and drilling. The Company has the resources and necessary manpower 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) 764-9178
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.