On November 27, 2023, Archer Exploration Corp. closed the transaction. The company has issued 10,602,400 non flow-through units at a price of CAD 0.08 per non flow-through unit for the gross proceeds of CAD 848,192, 5,998,200 flow-through units at a price of CAD 0.09 per flow-through unit for the gross proceeds of CAD 539,838 and 6,500,000 Quebec flow-through units at a price of CAD 0.10 per quebec flow-through unit for the gross proceeds of CAD 650,000; for total gross proceeds of CAD 2,038,030.

Certain directors and officers of the company participated in the offering and purchased a total of 1,984,275 non flow-through units and 222,200 flow-through units. In connection with the offering, the company paid aggregate cash finder's fees in the amount of CAD 73,705.55 and issued a total of 120,750 non-transferable finder's warrants. Each finder's warrant entitles the holder thereof to purchase one common share at a price of CAD 0.16 per common share for a period of 18 months from the closing date of the offering.

All securities issued in connection with the offering are subject to a 4-month statutory hold period, in accordance with applicable securities laws and the policies of the Canadian Securities Exchange. The transaction was oversubscribed.