Momentum Public Relations
Press Release: November 19, 2019
Arctic Star Exploration Corp. has arranged for a private placement for gross proceeds of up to $1.3-million, issuing units at five cents per unit on a 1:5 postconsolidated basis (see the company’s news release dated Oct. 30, 2019). Each unit will comprise one common share and one common share purchase warrant, with each whole warrant exercisable into one common share at a price of 15 cents for a period of two years from closing.
All securities will be subject to a four-month hold period from the closing date. Finders’ fees may be paid in accordance with the TSX Venture Exchange policies. The private placement is subject to the approval of the TSX-V.
Proceeds of the private placement will be used for general working capital, to explore existing properties and possibly for potential future acquisitions.