Arctic Star Exploration Corp. announced a non-brokered private placement of 1,562,500 units at CAD 0.08 per unit for gross proceeds of CAD 125,000 on August 18, 2022. The warrants issued under the transaction are exercisable to purchase 1,562,500 common shares at CAD 0.10 per share, until August 18, 2024 or earlier subject to an accelerated option clause pursuant to the acceleration clause, if the common shares of the company close at or above CAD 0.30 for five consecutive trading days on the TSX Venture Exchange then the warrants must be exercised within a 60-day period by the warrant holders, or failing which, the warrants shall expire as null and void. All securities issued in connection with the transaction are subject to a statutory hold period expiring on December 19, 2022.

The TSX Venture Exchange has accepted for filing documentation with respect to the transaction. The transaction included participation form one placee.