By Sheri Kasprzak
Atlanta, May 6 - Arctic Star Diamond Corp. said it has closed a downsized private placement for C$1,921,256.
The company sold 4,152,800 flow-through shares at C$0.27 each and 3.2 million non flow-through units at C$0.25 each.
The units include one common share and one half-share warrant. The whole warrants allow for an additional common share at C$0.30 each through April 29, 2006.
Dundee Securities Corp. and Canaccord Capital Corp. were the placement agents in the deal.
The company said it has also closed a non-brokered deal for $1,480,049.
The company sold 2,532,591 flow-through shares at C$0.27 each and 3,185,000 non flow-through units at C$0.25 each. The units were sold under the same terms as the brokered deal.
Based in Vancouver, B.C., Arctic Star is a diamond exploration company. It plans to use the proceeds for exploration on its Canadian diamond projects and for working capital.
| Issuer: | Arctic Star Diamond Corp.
|
| Issue: | Flow-through shares and units of one share and one half-share warrant
|
| Amount: | C$1,921,256 |
|
| Placement agents: | Dundee Securities Corp. and Canaccord Capital Corp.
|
| Pricing date: | March 24
|
| Settlement date: | May 5
|
| Stock price: | C$0.24 at close March 24
|
| Stock price: | C$0.235 at close May 5
|
|
|
| Flow-through shares
|
| Issue: | Flow-through common shares
|
| Shares: | 4,152,800
|
| Price: | C$0.27
|
| Warrants: | No
|
|
|
| Units
|
| Issue: | Units of one common share and one half-share warrant
|
| Units: | 3.2 million
|
| Price: | C$0.25
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | One year
|
| Warrant strike price: | C$0.30
|
|
|
| Issuer: | Arctic Star Diamond Corp.
|
| Issue: | Flow-through shares and units of one share and one half-share warrant
|
| Amount: | C$1.25 million
|
| Pricing date: | March 24
|
| Settlement date: | May 5
|
| Stock price: | C$0.24 at close March 24
|
| Stock price: | C$0.235 at close May 5
|
|
|
| Flow-through shares
|
| Issue: | Flow-through common shares |
|
| Shares: | 2,532,591
|
| Price: | C$0.27
|
| Warrants: | No
|
|
|
| Units
|
| Issue: | Units of one share and one half-share warrant
|
| Units: | 3,185,000
|
| Price: | C$0.25
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | One year
|
| Warrant strike price: | C$0.30
|
|
|
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