October 28, 2016 – Arctic Star Exploration Corp, (“Arctic Star” or the “Company”) (TSXV:ADD) announces that further to its news release of October 12, 2016, the TSX Venture Exchange has approved the consolidation of its authorized issued and outstanding shares (each, a “Share“) on the basis of four (4) pre-consolidated shares for one (1) post- consolidated share (the “Consolidation“). The Consolidation will become effective at the opening of the market on October 31, 2016. The Company’s symbol shall remain as “ADD”. Currently a total of 97,363,073 Shares are issued and outstanding. Accordingly, upon the Consolidation becoming effective, a total of 24,340,768 Shares, subject to adjustments for rounding, will be issued and outstanding. There is no maximum number of authorized Shares.
Computershare Investor Services Inc. (“Computershare“) will mail letters of transmittal to the shareholders providing instructions on exchanging pre-Consolidation share certificates for post-Consolidation share certificates. Shareholders are encouraged to send their share certificates, together with their letter of transmittal, to Computershare in accordance with the instructions in the letter of transmittal.
ON BEHALF OF THE BOARD OF DIRECTORS OF
ARCTIC STAR EXPLORATION CORP.
Patrick Power, President
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.