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Arctic Star Exploration (TSXV:ADD) Announced a non-brokered private placement

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The company plans to raise gross proceeds of up to $1,500,000 from the issuance of up to 15 million units, priced at $0.10 per unit.

Additional Information:

Company: Arctic Star Exploration
Website: http://www.arcticstar.ca
Stock Symbol: TSXV: ADD
Date Published: Oct 26, 2017
Transcript: Available

Video Transcript:

I’m Samantha Deutscher for Investmentpitch Media

Arctic Star Exploration, a diamond exploration company with projects in Canada and Finland, has announced a non-brokered private placement

The company plans to raise gross proceeds of up to $1,500,000 from the issuance of up to 15 million units, priced at $0.10 per unit.

Each unit consists of 1 share and 1 warrant, with each warrant exercisable at $0.15 for 24 months.

Proceeds will be used for exploration work on the Foriet Diamond Property and for general working capital.

The Foriet Property, located in northern Finland, occurs on the Karelian Craton, a large geological domain that hosts several diamond-bearing kimberlite clusters.

The property contains the Black Wolf and White Wolf Kimberlites which occur 50 metres from one another.

The Black Wolf kimberlite returned 23 microdiamonds from a small grab sample of 9.8 kilograms.

The White Wolf kimberlite has been core drilled and mini-bulk sampled in past.

Microdiamond recovery totalled 42 diamonds between 0.15 and 0.88 millimetres from 41.2 kilograms of core.

Arctic Star management believes that the diamond bearing Wolf Kimberlites signify the first discoveries in a new diamond bearing kimberlite zone.

The company recently filed an updated NI 43-101 Technical Report on the Foriet Diamond Property on Sedar.

The shares last traded at $0.13 and with 64 million shares outstanding, the company is capitalized at $8.3 million.

For more information, please visit the company’s website at www.arcticstar.ca, contact Patrick Power, President, at 604-689-1799 or email info@arcticstar.ca.

I’m Samantha Deutscher for Investmentpitch Media