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ARCHER COMMUNICATIONS FINANCING RESTRUCTURED

 ARCHER COMMUNICATIONS FINANCING RESTRUCTURED
 CALGARY, Alberta, April 9 /PRNewswire/ -- Archer Communications


Inc. (NASDAQ: QSNDF; Toronto: AAZ) announces that the investor in the proposed financing previously announced by the company on Feb. 25, 1992 is discussing with Archer a change to the structure of the financing. The investor has advised the company that it remains committed to proceeding with the financing subject to the completion of due diligence examinations. Finalization of the new structure will delay closing of the financing. Subject to agreement on a mutually satisfactory structure and regulatory approval, it is now anticipated that an initial advance of funds will take place at or before the end of April. The new structure may result in a decrease from previously announced gross proceeds of $5,300,000 US to approximately $4,575,000 US as other previous potential investors may not be able to participate under the new structure. Whether the change of control of Archer previously referred to will actually occur depends on the form of the new financing structure.
 -0- 4/9/92
 /CONTACT: David Gallagher of Archer Communications, 403-291-2492/
 (QSNDF AAZ) CO: Archer Communications Inc. ST: IN: ENT SU:


AW-SS -- FL001 -- 6688 04/09/92 10:33 EDT
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Publication:PR Newswire
Date:Apr 9, 1992
Words:201
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