VANCOUVER, BRITISH COLUMBIA — (Marketwire) — 02/16/12 — Arctic Hunter Energy Inc. (TSX VENTURE: AHU) (the “Company”) proposes to extend the expiry date of 1,000,000 share purchase warrants exercisable to purchase one common share of the Company at an exercise price of $0.30 per share from the expiry date of May 14, 2012 to May 14, 2013. The warrants were issued in May 2008 in connection with a non-brokered private placement financing.
The Company also proposes to extend the expiry date of 3,000,000 share purchase warrants exercisable to purchase one common share of the Company at an exercise price of $0.25 per share from the original expiry date of October 5, 2012 to October 5, 2014. The Warrants were issued in October 2009 in connection with a non-brokered private placement financing with an original term of three years.
Proceeds from any exercise of warrants will be used to continue to fund exploration activities and for working capital purposes.
The extension of the warrants is subject to TSX Venture Exchange approval.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as the term is defined in the Policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Contacts:
Arctic Hunter Energy Inc.
Tim Coupland
President and CEO
(604) 681-3131
(604) 408-3884 (FAX)
Arctic Hunter Energy Inc.
Robert Hall
Director
(604) 488-0860