Archer Exploration Announces Marketed Private Placement of a Minimum of $10 Million and Provides Transaction Update
Summary
Archer is also pleased to provide an update on its proposed acquisition of certain nickel assets, rights and obligations located in Quebec and Ontario from Wallbridge Mining Company Limited ("Wallbridge").The Agents will market, on a best efforts basis, a private placement of special and flow-through special warrants of Archer (collectively the "Offered Securities") for aggregate gross proceeds of a minimum of $10,000,000. Additional details regarding the proposed directors of Archer and the new omnibus incentive plan can be found in Archers information circular, which is available on SEDAR at www.sedar.com.Neither the CSE nor its Market Regulator (as that term is defined in policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.The information contained herein contains "forward-looking statements" within the meaning of applicable securities legislation. "Forward-looking information" includes, but is not limited to, statements with respect to the activities, events or developments that Archer expects or anticipates will or may occur in the future. Generally, but not always, forward-looking information and statements can be identified by the use of words such as "plans", "expects", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates", or "believes" or the negative connotation thereof or variations of such words and phrases or statements that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved" or the negative connotation thereof. These forward-looking statements or information may relate to: obtaining the final terms of the Offering, including the type and the price of the Offered Securities; required regulatory approvals and fulfilling other closing conditions related to the Offering; closing of the Offering and the Closing Date; the use of the proceeds raised from the Offering; the exercise of the Agents Option; completion of the Acquisition; filing of the Qualification Prospectus; issuance of the Final Receipt, the appointment of new directors; and the re-commencement of trading of Archers common shares on the CSE.Such forward-looking information and statements are based on numerous assumptions, including among others, that the results of planned exploration activities are as anticipated, the anticipated cost of planned exploration activities, that general business and economic conditions will not change in a material adverse manner, that financing will be available if and when needed and on reasonable terms, that third party contractors, equipment and supplies and governmental and other approvals required to conduct Archers planned exploration activities will be available on reasonable terms and in a timely manner.