Arctic Star Exploration Corp. announced a non-brokered private placement of up to 30,000,000 units at an issue price of CAD 0.01 per unit for the gross proceeds of CAD 300,000 on October 12, 2023. Each Unit will be comprised of one common share and one nontransferable 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 CAD 0.05 per Warrant Share. The Company may pay a finder?s fee on the Offering within the maximum amount permitted by the policies of the TSXV. The company may complete multiple closings of the Offering, as subscriptions are received.

Each closing is subject to a number of conditions, including receipt of all necessary corporate and regulatory approvals. Closing of the Offering is subject to certain customary conditions, including, without limitation, approval of the TSXV. All Securities issued under the Offering will be subject to a hold period which will expire four months and one day from the date of closing of the Offering.