Arctic Hunter Energy Inc. (TSXV:AHU) announced a non-brokered private placement of 5,000,000 units at a price of CAD 0.15 per unit to raise gross proceeds of up to CAD 750,000 on October 8, 2020. The company will issue 1,666,667 flow-through units at a price of CAD 0.15 per unit for gross proceeds of CAD 250,000 and 3,333,333 non flow-through units at a price of CAD 0.15 per unit for gross proceeds of CAD 500,000. Each non flow-through unit will consist of one common share and one common share purchase warrant. Each non flow-through warrant entitles the holder to purchase one common share in the capital of the company at an exercise price of CAD 0.25 per share for a period of three years from the date of issuance. Each flow-through unit will consist of one common share of the capital of the company issued on a flow-through basis pursuant to the Income Tax Act (Canada), and one-half of one common share purchase warrant. Each flow-through warrant entitles the holder to purchase one common share in the capital of the company at an exercise price of CAD 0.25 per share for a period of 18 months from the date of issuance. The transaction is subject to acceptance from the TSX Venture Exchange. All securities issued pursuant to the transaction will be subject to a four month hold period from the date of issue in accordance with applicable securities laws. In connection with the transaction, the company proposes to pay a finders' fee to arm's length parties for services rendered in respect of the transaction. The finder's fee will consist of a cash fee equal to 6% of the gross proceeds and finder's warrants equal in number to 6% of the number of units sold. Each finder's warrant will entitle the holder to acquire one common share of the company at a price of CAD 0.15 per share for a period of three years from the date of closing.