Arctic Star Announces Non‐Brokered Private Placement
October 26, 2017 – Arctic Star Exploration Corp. (TSXV:ADD) (the “Company” or “Arctic Star”) announces a non‐brokered private placement (the “Private Placement”) of up to 15,000,000 units (the “Units”) at a price of $0.10 per Unit, for gross proceeds of up to $1,500,000. Each Unit will be comprised of one common share in the capital of the Company (each, a “Share”) and one nontransferable share purchase warrant (each, a “Warrant”). Each Warrant will entitle the holder to purchase one additional Share in the capital of the Company (each, a “Warrant Share”) for a period of 24 months from the closing date at an exercise price of $0.15.
All securities will be subject to a four‐month hold period from the closing date. The Private Placement is subject to TSX Venture Exchange (“TSXV”) approval.
Finder’s fees may be paid in accordance with TSXV policies.
The Company intends to use the proceeds from the Private Placement for exploration on the Foriet Diamond Property and for general working capital.
ON BEHALF OF THE BOARD OF DIRECTORS OF
ARCTIC STAR EXPLORATION CORP.
/s/ Patrick Power
Patrick Power, President