Polar Star announces $2.8 million raised from warrant exercise
18 Août 2010 - 11:25PM
PR Newswire (Canada)
TORONTO, Aug. 18, 2010 /CNW/ -- /NOT FOR DISTRIBUTION TO UNITED
STATES WIRE SERVICES OR DISSEMINATION IN THE UNITED STATES/
TORONTO, Aug. 18, 2010 /CNW/ - Polar Star Mining Corporation (TSXV:
PSR) ("Polar Star" or the "Company") announces that further to the
press release dated January 11, 2010, an additional 6,486,715 of
the warrants expiring on August 13 and 17, 2010 have been exercised
including all 1,115,708 of the broker warrants expiring August 13
and 17, 2010 at $0.35, and 5,371,007 of the warrants expiring on
August 13 and 17, 2010, at $0.45. Proceeds from the exercise of
these warrants totalled $2,807,451. In aggregate 99.5% of the
warrants expiring on August 13 and 17, 2010 were exercised during
2009 and 2010. The Company's cash balance as at August 18, 2010 is
approximately $17.3 million. For complete details of the currently
outstanding warrants, please visit the Investors section of the
Company's website at www.polarstarmining.com. The Company also
announces its Q2 2010 financial statements and Management
Discussion and Analysis have been filed and are available on the
Company's website and on SEDAR at www.sedar.com. Forward-Looking
Statements This press release may contain forward-looking
statements based on assumptions, uncertainties and management's
best estimates of future events. Actual events or results could
differ materially from the Company's expectations and projections.
Investors are cautioned that forward-looking statements involve
risks and uncertainties. Accordingly, readers should not place
undue reliance on forward-looking statements. When used herein,
words such as "anticipate", "will", "intend" and similar
expressions are intended to identify forward-looking statements.
For a more detailed discussion of such risks and other factors that
could cause actual results to differ materially from those
expressed or implied by such forward-looking statements, refer to
Polar Star Mining Corporation's filings with Canadian securities
regulators available on www.sedar.com or the Company's website at
www.polarstarmining.com. About Polar Star Mining Corporation Polar
Star Mining Corporation (TSXV: PSR) is an emerging exploration
company with a focus on building value in Chile through discovery
and development. The company has approximately 257,000 hectares
prospective for gold and copper-gold. Share Capitalization Shares
Outstanding: 90,076,670 as of August 18, 2010. Neither 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. Adam
Rochacewich, Chief Financial Officer, Polar Star Mining
Corporation, (416)-368-3496, info@polarstarmining.com
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