RE: Financing News
Arctic Star Diamond Corp
Symbol ADD
Shares Issued 30,475,369
Close 2004-04-08 C$ 0.60
Recent Sedar Documents
Arctic Star arranges $979,800 private placement
2004-04-08 20:24 ET - News Release
Mr. Patrick Power reports
PRIVATE PLACEMENT
Arctic Star Diamond has arranged a non-brokered private placement of up to 1,633,000 units at a price of 60 cents per unit, for proceeds to the company of $979,800. The private placement is subject to TSX Venture Exchange approval. Each unit will consist of one common share and one-half non-transferable share purchase warrant, each full warrant entitling the holder to purchase one additional common share of the company for a period of one year at a price of 66 cents per share. A total of $791,800 of the private placement will be raised on a flow-through basis as to the share only. All warrants will be issued on a non-flow-through basis. The proceeds of the private placement will be used for exploration of the company's diamond properties and for general working capital. Finder's fees or commissions will be payable in accordance with the policies of the TSX-V.