Archean Star Resources Inc.

Archean Star Resources Inc.

April 01, 2011 18:06 ET

Archean Star Resources Inc. Re-Prices and Increases Financing

VANCOUVER, BRITISH COLUMBIA--(Marketwire - April 1, 2011) - Archean Star Resources Inc. ("Archean" or the "Company") (TSX VENTURE:ASP) reports that due to the recent trading activity, it has re-priced its previously announced non-brokered private placement of 1,000,000 Units at $0.25 cents per Unit to $0.15 cents per Unit, has increased the private placement to 3,000,000 Units for gross proceeds of $450,000 and subject to TSX Venture Exchange (TSX-V) approval, has closed a first tranche of 954,280 Units for gross proceeds of $143,142.

Each unit consists of one (1) common share and one (1) non-transferable common share purchase warrant. Each warrant is exercisable for a period of one (1) year from closing and will entitle the holder to purchase one additional common share in the capital stock of the Company at a price of $0.25 per common share. Shares subscribed for in the private placement are subject to a four (4) month plus one day hold period. Finder Fees may be payable pursuant to the policies of the TSX-V.

Pursuant to the policies of the TSX-V, the Company has paid $8,050 and 95,428 B Warrants in finder fees on this tranche.

The Company announces that Ms. Tara Sweder of Investment Pitch recently conducted a video interview with the President and CEO, Graeme O'Neill, which is available for viewing at:

This News Release has been prepared on behalf of the Archean Star Resources Inc. Board of Directors, which accepts full responsibility for its contents. 


Graeme O'Neill, President

Neither the TSX Venture Exchange, nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange), has reviewed, nor do they accept responsibility for, the adequacy or accuracy of this news release.

Contact Information

  • Archean Star Reosurces Inc.
    Graeme O'Neill
    604-684-3394 or Toll Free: 1-866-399-6539
    1-888-282-7763 (FAX)