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Archean Star Resources Closes First Trance of Private Placement, Appoints CFO, Shares Third Most Active on TSXV

Archean Star Resources (ASP.V) is the third most actively traded stock on the TSXV mid-morning, with more than 1.1 million shares changing hands.

The company reported yesterday that it has arranged for a non-brokered Private Placement consisting of up to 12,000,000 Units at $0.06 cents per Unit and has closed a first tranche of 8,496,666 Units for gross proceeds of $509,800.

Proceeds will be used for proposed property acquisitions, the Gnaweeda Gold Project and for general and corporate purposes.

Archean also appointed Giuseppe Gallo, CGA, as Chief Financial Officer of the Company.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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