Mr. Dilution.... Arctic Star Exploration (ADD-V) June 26, '15 has updated the terms of its private placement announced on March 16, 2015, and April 27, 2015.
The company will offer up to 18,333,333 flow-through units, at a price of six cents per flow-through unit, and up to 15 million non-flow-through units, at a price of five cents per non-flow-through unit, for total gross proceeds of $1.85-million.
Each flow-through unit consists of one flow-through common share and one-half of one non-flow-through share purchase warrant. Each non-flow-through unit consists of one non-flow-through common share and one-half of one warrant.
One whole warrant is exercisable into non-flow-through shares at a price of 10 cents per warrant share for a period of five years from the date of issuance of the warrants.
Finders' fees may be paid in accordance with TSX Venture Exchange policies.
The proceeds from the offering will be used to finance the company's 2015 exploration programs on its 100-per-cent-owned Stein Nunavut project, as well as the T-Rex and Triceratops properties, located in the Northwest Territories, and for general corporate purposes. Proceeds from flow-through units issued under the offering will be used for Canadian exploration expenses within the meaning of the Income Tax Act (Canada). The company will use its best efforts to ensure that an amount equal to such proceeds will be used to incur Canadian exploration expenses, for purposes of the Income Tax Act (Canada), related to the company's exploration projects.
This message is personalized to you at info@arcticstar.ca.
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Arctic Star Exploration Corp.
14th floor - 1111 W. Georgia St., Vancouver, BC, Canada, V6E 4M3
www.arcticstar.ca
604-689-1799 |
