Arctic Star Announces Closing of Non-Brokered Private Placement of Units
![Arctic Star Announces Closing of Non-Brokered Private Placement of Units](https://www.goldseiten.de/media/goldseiten-news.jpg)
The Warrants contain an accelerated option clause which states that if the Shares close at or above $0.30 for 5 consecutive trading days on the the TSX Venture Exchange (the "TSXV"), then the Warrants must be exercised within a 60 day period by the warrant holders, or failing which, the Warrants shall expire as null and void.
The Company intends to use the proceeds from the Private Placement for Helicopter borne magnetic and Frequency domain "Resolve" EM survey on the Diagras Diamond Project.
The securities issued under the Private Placement, and the shares that may be issuable on exercise of the Warrants, are subject to a statutory hold period expiring on April 24, 2022.
ON BEHALF OF THE BOARD OF DIRECTORS OF
Arctic Star Exploration Corp.
"Patrick Power"
Patrick Power, President & CEO
+1 (604) 218-8772
ppower@arcticstar.ca
This news release contains "forward-looking statements" including but not limited to statements with respect to Arctic Star's plans, the Private Placement and the use of proceeds. Forward-looking statements, while based on management's best estimates and assumptions, are subject to risks and uncertainties that may cause actual results to be materially different from those expressed or implied by such forward-looking statements, including but not limited to the Company's plan to use all or some portion of the proceeds for exploration on the Diagras Diamond Project. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. Arctic Star undertakes no obligation or responsibility to update forward-looking statements, except as required by law.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
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