Momentum Public Relations
Press Release: October 26, 2017
2017-10-26 12:58 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 15 million units at a price of 10 cents per unit, for gross proceeds of up to $1.5-million. Each unit will comprise one common share in the capital of the company and one non-transferable share purchase warrant. Each warrant will entitle the holder to purchase one additional share in the capital of the company for a period of 24 months from the closing date at an exercise price of 15 cents.
All securities will be subject to a four-month hold period from the closing date. The private placement is subject to TSX Venture Exchange approval.
Finders’ fees may be paid in accordance with TSX-V policies.
The company intends to use the proceeds from the private placement for exploration on the Foriet diamond property and for general working capital.
We seek Safe Harbor.
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