Archer Exploration Corp announced a non-brokered private placement that it will raise total gross proceeds up to CAD 1,500,000 on October 23, 2023. The Offering will be comprised of Quebec charity flow-through units to be sold at a price of CAD 0.155 per charity flow-through Unit, flow-through units to be sold at a price of CAD 0.09 per flow-through Unit; and non-flow-through units to be sold at a price of CAD 0.08 per non-flow-through Unit. Each charity flow-through unit and flow-through unit comprised of one Common Share and one Warrant.

Each non-flow-through unit comprised of one common share and one non-transferable Common Share purchase warrant. The Warrants for all units will be subject to the same terms, with each Warrant entitling the holder thereof to purchase one Common Share for a period of three years from the date of issuance at an exercise price of CAD 0.16 per Warrant Share. The Offering is expected to close on or about November 30, 2023.

The Company may pay finders' fees comprised of cash and non-transferable warrants in connection with the Offering, subject to compliance with the policies of the Canadian Securities Exchange. 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.