ADD ARCTIC STAR DIAMONDS NEWSWIRE~PRIVATE PLACEMET CLOSED
Arctic Star closes $234,650 private placement
2024-12-04 18:18 ET - News Release
Mr. Patrick Power reports
ARCTIC STAR ANNOUNCES CLOSING OF NON-BROKERED PRIVATE PLACEMENT OF UNITS
Arctic Star Exploration Corp. has closed its non-brokered private placement of units of the company at a price of 1.5 cents per unit, first announced on July 26, 2024, as further updated on Sept. 7, 2024, Sept. 25, 2024, and Oct. 4, 2024.
The offering consisted of 15,643,334 units for gross aggregate proceeds of $234,650. Each unit consisted of one common share in the capital of the company and one non-transferable share purchase warrant. Each warrant is exercisable to purchase one additional share for a period of 24 months from the closing date at an exercise price of five cents per warrant share.
No insiders (as such term is defined under the policies of the TSX Venture Exchange) or persons conducting investor relations activities participated in the offering.
All securities issued under the offering will be subject to a hold period, which will expire on April 5, 2024, in accordance with applicable securities legislation.
( NR ERROR.....should read 2025)
The company will use 100 per cent of the proceeds from the offering for general working capital and trade payables.
No finders' fees were paid in connection with the offering.
About Arctic Star Exploration Corp.
Arctic Star is predominantly a diamond explorer, recently discovering five new kimberlites in the prolific Lac De Gras kimberlite field that supports two multibillion-dollar kimberlite mining complexes. The company also has a 958-hectare exploration permit containing several diamond-bearing kimberlites on its Timantti project, Kuusamo, Finland. The company continues to look for appropriate diamond opportunities elsewhere.
We seek Safe Harbor.
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