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Arctic Star Exploration Corp (4)
Symbol ADD
Shares Issued 118,491,751
Close 2021-10-18 C$ 0.065
Recent Sedar Documents

Arctic Star cancels one placement, arranges another

2021-10-18 16:57 ET - News Release

Mr. Patrick Power reports

ARCTIC STAR ANNOUNCES NON-BROKERED PRIVATE PLACEMENT

Arctic Star Exploration Corp. has arranged a non-brokered private placement of up to 8,571,430 common shares at a price of seven cents per share for gross proceeds of up to $600,000.

Closing of the private placement is subject to certain customary conditions, including, without limitation, approval of the TSX Venture Exchange. The securities to be issued under the private placement will be offered by way of a private placement in the provinces of British Columbia, Alberta and Ontario, and such other provinces or territories of Canada as may be determined by the company, in each case, pursuant to applicable exemptions from the prospectus requirements under applicable securities laws. Securities issued under the private placement will be subject to a hold period, which will expire four months and one day from the date of closing of the private placement.

The company intends to use the proceeds from the private placement for a helicopterborne magnetic and frequency domain resolve electromagnetic survey on the Diagras diamond project.

The private placement replaces and supersedes the unit private placement the company announced on Sept. 10, 2021.

We seek Safe Harbor.

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