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ARCHER COMMUNICATIONS ISSUES PRIVATE PLACEMENT

 ARCHER COMMUNICATIONS ISSUES PRIVATE PLACEMENT
 CALGARY, Alberta, Feb. 25 /PRNewswire/ -- Archer Communications


Inc. (NASDAQ: QSNDF; Toronto: AAZ) announced that it intends to issue by private placement up to approximately 2,937,000 units, each unit consisting of one common share and one warrant to purchase one common share. The warrants will be exercisable for 5 years at a price of $2.15 (U.S.). The units are being sold at $1.83 (U.S.), being 85 percent of the closing price of Archer shares on The Torono Stock Exchange converted into U.S. dollars on Feb. 17, 1992, the day the company committed to and priced the financing. Gross proceeds to the company would be approximately $5,300,000 (U.S.) which would be added to working capital. Specifically, the company will repay its obligations to J&C Resources Inc. ($1,500,000 (U.S.) plus accrued interest), the balance to be used to further finance the research and development, manufacturing and marketing of the QSound Techonology. The offering is expected to close mid-April. The conclusion of this financing will effect a change in control of the company since 2,500,000 units are being placed with one investor whose affiliate is currently negotiating to purchase 1,500,000 common shares from current major shareholders of Archer.
 -0- 2/25/92
 /CONTACT: David Gallagher, chief financial officer of Archer Communications, 403-269-9007/
 (QSNDF AAZ) CO: Archer Communications Inc. ST: IN: ENT SU:


AW-AK -- FL003 -- 2242 02/25/92 10:04 EST
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Date:Feb 25, 1992
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