Astar Closes Non-Brokered Private Placement
ASTAR MINERALS LTD.
ASTAR CLOSES NON-BROKERED PRIVATE PLACEMENT
January 4, 2017 TSX-V: TAR
Vancouver, British Columbia. Astar Minerals Ltd. (“Astar” or the “Company”) is pleased to
announce that it has closed its previously announced non-brokered private placement financing
(the “Private Placement”). Pursuant to the Private Placement, the Company issued an aggregate
of 6,855,332 units (the “Units”) at a price of $0.15 per Unit for gross proceeds of $1,028,299.
Each Unit consis ts of one common share in the capital of the Company and one -half of one
common share purchase warrant (each whole warrant , a “Warrant”). Each Warrant entitles the
holder to purchase one additional common share in the capital of the Company (a “ Warrant
Share”) at a price of $0.30 per Warrant Share for a period of 36 months from the closing of the
Private Placement.
In connection with the Private Placement, the Company paid aggregate cash finders’ fees equal
to approximately $74,800 and issued 498,667 finders’ warrants. The finders’ warrants have the
same terms as the W arrants forming part of the Units except that they are exercisable at a price
of $0.20 per Warrant Share.
Proceeds of the Private Placement will be used for the search and investigation of new
opportunities for the Company, and for general working capital. All securities issued pursuant to
the Private Placement are subject to a statutory hold period of four months plus one day from the
date of issuance, in accordance with applicable securities legislation.
Insiders of the Company have subscribed for Units under the Private Placement. The issuance of
Units to insiders pursuant to the Private Placement (the “ Insider Participation ”) will be
considered to be a related party transaction within the meaning of TSX Venture Exchange Policy
5.9 and Multilateral Instrument 61- 101 (“MI 61 -101”). The Company intends to rely on the
exemptions from the valuation and minority shareholder approval requirements of MI 61 -101
contained in Sections 5.5(b) and 5.7(1)(b) of MI 61-101 in respect of any Insider Participation.
For further in formation with respect to the Insider Participation, please contact Mr. Stephen
Stanley, President & CEO at 604 684-7550.
On behalf of the board of ASTAR MINERALS LTD.
Stephen Stanley
President and CEO
Astar Minerals Ltd.
Telephone: (604) 684-7550
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“Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined
in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy
of this release.”
Cautionary Note Regarding Forward-Looking Statements
Certain information in this news release constitutes forward-looking statements under applicable
securities law. Any statements that are contained in this news release that are not statements of
historical fact may be deemed to be forward-looking statements. Forward-looking statements are
often identified by terms such as “may”, “should”, “anticipate”, “expect”, “intend” and similar
expressions. Forward-looking statements in this news release include, but are not limited to,
statements with respect to the use of proceeds from the Private Placement. Forward-looking
statements necessarily involve known and unknown risks, including, without limitation, the
Company’s ability to implement its business strategies; risks associated with general economic
conditions; adverse industry events; marketing and transportation costs; loss of markets;
inability to access sufficient capital from internal and external sources, and/or inability to access
sufficient capital on favourable terms; industry and government regulation; changes in
legislation, income tax and regulatory matters; competition; currency and interest rate
fluctuations; and other risks. Readers are cautioned that the foregoing list is not exhaustive.
Readers are further cautioned not to place undue reliance on forward-looking statements as
there can be no assurance that the plans, intentions or expectations upon which they are placed
will occur. Such information, although considered reasonable by management at the time of
preparation, may prove to be incorrect and actual results may differ materially from those
anticipated. Forward-looking statements contained in this news release are expressly qualified
by this cautionary statement.
The forward-looking statements contained in this news release represent the expectations of the
Company as of the date of this news release, and, accordingly, are subject to change after such
date. The Company does not undertake any obligation to update or revise any forward-looking
statements, whether as a result of new information, future events or otherwise, except as
expressly required by applicable securities law.