| Archer Closes Private Placement Financing of $325,000 | |
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VANCOUVER, BRITISH COLUMBIA--(Marketwired - Nov 25, 2014) - Archer Petroleum Corp. (TSX VENTURE:ARK)(DBFrankfurt:A6VA) (the "Company") is pleased to announce that the Company has closed its private placement (the "Offering") announced on October 14 and November 11, 2014. An aggregate of 6,500,000 Units were issued at a price of $0.05 per Unit for gross proceeds of $325,000. Each Unit consists of one common share ("Common Share") and one-half of one transferable share purchase warrant ("Warrant"). Each whole warrant entitles the holder thereof to acquire one Common Share in the capital of the Company at a price of $0.05 per Common Shares for a period of twenty-four (24) months following the closing of the Offering. Warrants will NOT be listed for trading. The Company paid finder's fees totalling $15,312.50 equal to 7% of the gross proceeds received by Company from the sale of Common Shares and issued a total of 316,250 non-transferable finder's warrants (Finder's Warrants). Each Finder's Warrant entitles the holder thereof to purchase one Common shares at a price of $0.05 for a period of 24 months following the closing of the offering. The securities issued pursuant to the Offering are subject to a holder period expiring on March 25, 2015. Proceeds of the Offering will be used for working capital purposes and to source and evaluate potential projects in the energy sector. About Archer Petroleum: Archer is an independent energy company focused on exploration and development in North America. Archer Shares are listed on the TSXV under the symbol "ARK" and the DB Frankfurt exchange under "A6VA". Further information on Archer can be found on the Company's website at www.archerpetroleum.com. ON BEHALF OF ARCHER PETROLEUM CORP. Colin Bowkett, President Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.
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Archer Petroleum Corp
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CODE : ARK.V |
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ProfileMarket IndicatorsVALUE : Projects & res.Press releasesAnnual reportRISK : Asset profileContact Cpy |
Archer Petroleum is a oil exploration company based in Canada. Archer Petroleum is listed in Canada. Its market capitalisation is CA$ 257 450 as of today (US$ 264 710, € 190 088). Its stock quote reached its highest recent level on December 31, 2007 at CA$ 4.50, and its lowest recent point on January 01, 2016 at CA$ 0.01. Archer Petroleum has 2 710 000 shares outstanding. |