Proactive Investors - Run By Investors For Investors

Arctic Star soars as it raises C$850,000 for exploration in Finland

Shares of the junior company were up in Thursday's trading
rough diamond
The company is exploring for diamonds in Finland

Arctic Star Exploration Corp (CVE:ADD) (OTCMKTS:ASDZF) jumped Thursday as it announced it raised C$850,000 to help fund exploration work at its Timantti diamond project in Finland.

The company announced that the private placement has been oversubscribed and that the second tranche is expected to close within a few days.

Shares of Arctic Star gained 33% to C$0.10 in Toronto and climbed 27% to US$0.07 on the OTC Markets in afternoon trading.

READ: Arctic Star Exploration boosts private placement

The Vancouver-based junior announced that it issued 17 million shares at C$0.05.

Under the terms of the deal, each unit consists of one common share and one warrant, which will entitle the holder to purchase additional shares of capital for C$0.08 for 24 months from the closing date.

The exploration company also granted 3.5 million stock options to its directors, employees and consultants, exercisable at C$0.08 for five years.

Contact Angela at [email protected]

Follow her on Twitter @AHarmantas

View full ADD profile View Profile

Arctic Star Exploration Corp Timeline

Related Articles

Gold  nuggets
January 28 2019
Maverix’s sole aim is to deliver shareholder returns through building an attractive precious metals royalty and streaming portfolio
1539587791_Kavango.jpg
October 15 2018
KSZ holds potential for world class base and precious metals deposits
1534333583_Thunderstruck---Bryce-Bradley.jpg
August 15 2018
Thunderstruck has an attractive and diverse portfolio of assets in Fiji
Copyright © Proactiveinvestors.com, 2019. All Rights Reserved - Proactive Investors North America Inc., Proactive Investors LLC

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use