ARANKA GOLD INC. Archer Petroleum Corp. (TSXV.ARK) ("Archer" or the "Company")is pleased to announce that, in addition to its ground-breaking oil-sands recovery technology that is currently finalizing commercial validation, the Company intends to pursue, source and evaluate new potential projects in the energy sector in an effort to increase shareholder value, including but not limited to conventional oil and gas opportunities in the United States.
The Company also wishes to announce that the board of directors have approved a proposed private placement offering of up to 5,000,000 units (the "Units") at a price of $0.05 per Unit for gross proceeds of $250,000 (the "Offering").
Each Unit will be comprised 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 working capital purposes and to source and evaluate potential projects in the energy sector.
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 www.archerpetroleum.com.
ON BEHALF OF ARCHER PETROLEUM CORP.
Colin Bowkett
Director
For further information contact:
Colin Bowkett
Archer Petroleum Corp.
Tel: (604) 683‐7588
Fax: (604) 683‐7589
info@archerpetroleum.com
www.archerpetroleum.com
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.
Disclaimer for Forward‐Looking Statements
Statements contained in this news release that are not historical facts constitute "forward‐looking statements" or "forward‐looking information" within the meaning of applicable securities laws, and are based on expectations, estimates and projections as of the date of this release. Forward‐looking statements in this release include, without limitation, statements with respect to the Company's plans for 2014; its goal of becoming a provider of a cutting edge, global heavy oil extraction technology; its plans with respect to property acquisitions and potentially expanding its business internationally as growth drivers for the Company; and statements regarding potential increases in the Company's exposure to heavy oils by potentially tens of thousands of barrels as the result of additional land acquisitions. Forward‐looking statements are frequently characterized by words such as "plan", "expect", "project", "intend", "believe", "anticipate", "estimate" and other similar words, or statements that certain events or conditions "may" occur. Forward‐looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable by management as of the date of such statements, are inherently subject to significant business, economic and competitive uncertainties and contingencies, and there can be no assurance that such statements will prove to be correct. Such forward‐looking statements are subject to risks and uncertainties that may cause actual results, performance or developments to differ materially from those contained in the statements including, without limitation, that the Company is unable to implement its proposed business expansion, either in North America or internationally; that the Company is unable to complete any planned land acquisitions or to realize any increase in exposure to heavy oil as a result thereof; risks related to the Company's licenses with respect to the Sandklene 950 technology; and market conditions in the Company's industry and the economy generally. The Company assumes no obligation to update these forward‐looking statements, or, if applicable, to update the reasons why actual results differ from those projected in the forward‐ looking statements, except in accordance with applicable securities laws.
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