On January 15, 2024, Arctic Star Exploration Corp. closed the transaction. The company has issued 700,000 units at an issue price of CAD 0.01 per unit for the gross proceeds of CAD 7,000 in second and final tranche. The company issued 20,000,000 units at an issue price of CAD 0.01 per per share for the gross proceeds of CAD 200,000. Each unit consists of one common share and one common share purchase warrant. Each warrant entitles the holder thereof to purchase one additional share at a price of CAD 0.05 per share for a period of 24 months from the date of issuance. All securities issued in connection with the second tranche of the private placement are subject to a statutory hold period of four months plus a day in accordance with applicable securities legislation ending on May 16, 2024. No finders' fees were paid in connection with the private placement.

The TSX Venture Exchange has accepted for filing documentation with respect to a non-brokered private placement. The transaction included participation from 11 placees.