Archer Exploration Corp. announced a non-brokered private placement to issue 9,479,166 units at an issue price of CAD 0.24 per unit for the gross proceeds of CAD 2,274,999.84 on April 26, 2024. Each unit shall be composed of one common share and one common share purchase warrant of the company.

Each warrant shall entitle the holder thereof to acquire one common share at a price of CAD 0.36 at any time during the 36-month period following the closing of the offering. The offering is expected to close on or about May 3, 2024, and is subject to certain conditions customary for transactions of this nature, including, but not limited to, the receipt of all necessary regulatory approvals. All securities issued and sold under the offering will be subject to a hold period expiring four months and one day from the closing date.

The transaction is subject to approval by the CSE, expects to commence trading on the CSE under the new trading symbol NIX on the effective day. The Company's board of directors has set May 2, 2024 as the record date and May 1, 2024 as the Effective Day of the Consolidation and, subject to approval by the CSE, the effective date of trading of the Common Shares on a post-Consolidation basis on the CSE. In connection with the Consolidation, the Company has effected the NameChange to NorthX Nickel Corp.