Archer Petroleum Corp.

Archer Petroleum Corp.

November 11, 2014 13:22 ET

Archer Announces Increase to Proposed Private Placement

VANCOUVER, BRITISH COLUMBIA--(Marketwired - Nov. 11, 2014) - Archer Petroleum Corp. (TSX VENTURE:ARK)(DBFrankfurt:A6VA) (the "Company") is pleased to announce it has increased its previously announced private placement offering (see news release dated October 14, 2014) from 5,000,000 units to 6,000,000 units at a price of $0.05 per unit for gross proceeds of up to $300,000.

Each Unit will continue to consist of one common share of the Company and one-half of one transferable common share purchase warrant (each whole share purchase warrant a "Warrant"), with each whole Warrant entitling the holder to purchase one additional common share at $0.05 per share for a period of two years from the date of the issue.

Subject to TSX Venture Exchange approval, the Company may pay finders a fee consisting of cash and warrants from the proceeds of the proposed offering.

Proceeds of the offering will be used for the Company's exploration activities on its resource properties, working capital purposes and to source and evaluate potential projects in the energy sector, including but not limited to conventional oil and gas opportunities in the United States.

Closing of the proposed offering is subject to a number of conditions, including receipt of all necessary corporate and regulatory approvals, including approval of the TSX Venture Exchange.

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


Colin Bowkett, Director

Forward-Looking Statements

Information set forth in this news release contains forward-looking statements that are based on assumptions as of the date of this news release. These statements reflect management's current estimates, beliefs, intentions and expectations. They are not guarantees of future performance. The Company cautions that all forward looking statements are inherently uncertain and that actual performance may be affected by a number of material factors, many of which are beyond the Company's control. Such factors include, among other things: risks and uncertainties relating to the Company's ability to complete proposed private placement financing. Accordingly, actual and future events, conditions and results may differ materially from the estimates, beliefs, intentions and expectations expressed or implied in the forward looking information. Except as required under applicable securities legislation, the Company undertakes no obligation to publicly update or revise forward-looking information.

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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