On November 18, 2022, Archer Exploration Corp. closed a private placement of (i) 4,545,455 non flow-through units at a price of $0.66 per non flow-through unit, (ii) 4,243,334 flow-through units at a price of $0.75 per flow-through unit, and (iii) 2,898,550 charity flow-through units at a price of $1.38 per charity flow-through unit for aggregate gross proceeds of approximately $10.2 million.
The offering was led by Canaccord Genuity Corp., as lead agent and sole book-runner on behalf of a syndicate of agents, including National Bank Financial Inc. and Raymond James Ltd.
Cassels acted for the agents.