Arctic Star Provides Update on Private Placement for Gross Proceeds of up to $3,800,000

2022-04-22 / @thenewswire

(TheNewswire)

April 22, 2022 – TheNewswire - Vancouver, British Columbia – Arctic Star Exploration Corp. (“Arctic Star” or the “Company”) (TSXV:ADD) announces that it expects to close the third and final tranche of its private placement on or before May 2, 2022.

For further details on the private placement, see the Company’s news releases dated February 28, 2022, March 11, 2022 and April 14, 2022, each filed under the Company’s profile on SEDAR at https://www.sedar.com.

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: risks related to the completion of the Private Placement and our 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. Factors that could affect our plans include the possibility that we do not receive final TSXV approval for the Private Placement or we are unable to raise all of the funds we are seeking to raise, in which event we may require all funds raised, if any, to be used for working capital rather than for exploration on the Diagras Diamond Project; and our proposed use of proceeds is subject to receipt of TSXV approval. 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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