Archer Petroleum announces Private Placement
Vancouver, British Columbia, CANADA (May 6, 2011) –
Archer Petroleum Corp (TSX.V: ARK, DB Frankfurt: A6VA), (the “Company”), wishes to announce a private placement of up to 3,350,000 units at a price of $0.06 per unit, each unit consisting of one share of the Company and one warrant to buy one additional share of the Company for $0.12 for a period of two years from the closing of the placement. Proceeds of the private placement will be used for general working capital. The private placement is subject to regulatory approval.
About Archer Petroleum:
Archer Petroleum Corp. is an independent oil and gas company focused on exploration and development in North America. Archer holds properties in Matagorda Bay Texas and Alberta. The Company’s shares are listed on the TSX Venture Exchange 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.
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.
ON BEHALF OF ARCHER PETROLEUM CORP.
“Colin Bowkett”
President
For further information contact:
Colin Bowkett
President
Archer Petroleum Corp.
Tel: (604) 683 - 7588
Fax: (604) 683 - 7589
info@archerpetroleum.com
www.archerpetroleum.com
THIS NEWS RELEASE IS NOT AN OFFER TO SELL OR A SOLICITATION OF AN OFFER TO PURCHASE SECURITIES IN THE UNITED STATES OR TO, OF THE ACCOUNT OR BENEFIT OF, U.S. PERSONS (AS SUCH TERM IS DEFINED IN REGULATION S UNDER THE U.S. SECURITIES ACT OF 1933, AS AMENDED (THE "U.S. SECURITIES ACT"). THE UNITS, THE COMMON SHARES AND WARRANTS, AND THE COMMON SHARES ISSUABLE UPON EXERCISE OF THE WARRANTS HAVE NOT BEEN AND WILL NOT BE REGISTERED UNDER THE U.S. SECURITIES ACT, AND MAY NOT BE OFFERED OR SOLD IN THE UNITED STATES OR TO, OF THE ACCOUNT OR BENEFIT OF, U.S. PERSONS ABSENT REGISTRATION UNDER THE U.S. SECURITIES ACT OR AN APPLICABLE EXEMPTION FROM SUCH REGISTRATION.