Archer Petroleum Corp.

Archer Petroleum Corp.

June 10, 2013 07:30 ET

Archer Petroleum Corp-Announces Private Placement

VANCOUVER, BRITISH COLUMBIA--(Marketwired - June 10, 2013) - Archer Petroleum Corp (TSX VENTURE:ARK)(DBFrankfurt:A6VA) ("Archer" or the "Company") announces that, subject to regulatory approval, it has arranged a non-brokered private placement financing (the "Financing") of up to 2,000,000 units (each, a "Unit") at a price of $0.50 per Unit for gross proceeds of up to $1,000,000. Each Unit consists of one common share of the Company (each, a "Share") and one-half of one share purchase warrant (each whole warrant, a "Warrant"). One Warrant entitles the holder thereof to purchase one additional Share of the Company at a price of $0.75 per Share for the first year after closing of the Financing and at a price of $1.00 per Share for the second year after closing of the Financing.

The proceeds of Financing will be used for general working capital.

Finders' fees may be payable in accordance with the policies of the TSX Venture Exchange.

About Archer Petroleum:

Archer Petroleum Corp. is an independent energy company focused on exploration and development in North America. The Company's shares are listed on the TSX Venture Exchange 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

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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