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File: ARCTIC STAR News Releaseannouncing closing of first tranche of private placement closing on April8.DOCX
ARCTIC STAR EXPLORATION CORP.
1400 - 1111 W. Georgia St. Vancouver, BC V6E 4M3 Tel: (604) 689 - 1799 Fax: (604) 689 - 8199
ARCTIC STAR ANNOUNCES CLOSING OF FIRST TRANCHE OF PRIVATE PLACEMENT
April 8, 2016 - Arctic Star Exploration Corp, ("Arctic Star" or the "Company") (TSXV:ADD) announces that it has comple
--->ted the first tranche of its previously announced private placement financing (the "Financing"), as described in its N
--->ews Release dated March 24, 2016, pursuant to which it has issued an aggregate 8,900,000 units (each, a "Unit") at a p
--->rice of $0.04 per Unit for gross proceeds of $356,000. Each Unit consists of one common share (each, a "Share") and on
--->e share purchase warrant (each, a "Warrant"). Each Warrant is exercisable into one Share at a price of $0.05 per Shar
--->e for a period of two years from the date of issuance. The Company intends on completing additional tranches of the F
--->inancing.
The Company did not pay any finder's fees in connection with the first tranche of the Financing.
Proceeds from the Financing will be used for maintenance of the Company's T-Rex and Triceratops properties and general
---> working capital.
The securities issued under the Financing, and the shares that may be issuable on exercise of the Warrants, are subjec
--->t to a statutory hold period expiring on August 9, 2016.
ON BEHALF OF THE BOARD OF DIRECTORS OF
ARCTIC STAR EXPLORATION CORP.
"Patrick Power" Patrick Power, President (604) 689-1799
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the
--->TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
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