Orestone Announces $100 Thousand Dollar Private Placement
Vancouver, British Columbia--(Newsfile Corp. - June 5, 2018) - Orestone Mining Corp. (TSXV: ORS) (the "Company") is pleased to announce a non-brokered private placement consisting of a maximum of 1,000,000 units ("Units") at a price of $0.10 per Unit for aggregate gross proceeds of up to $100,000 (the "Private Placement"). Each Unit will consist of one common share of the Company and one-half of one common share purchase warrant. Each whole Warrant will be exercisable for one common share of the Company at a price of $0.15 for one year from the date of issuance.
Subject to the approval of the TSX Venture Exchange (the "Exchange") and applicable laws, the Company may pay to certain arm's length finders a cash finder's fee of 5% of the gross proceeds of the Private Placement.
Closing will be subject to receipt of conditional approval by the Exchange. Certain of the Company's insiders may participate in the Private Placement.
The net proceeds of the Private Placement will be used for general working capital.
The Company has, subject to regulatory approval, granted consultants of the Company incentive stock options to purchase an aggregate of 100,000 common shares. The options are exercisable until June 4, 2023 at an exercise price of $0.15 per share.
Orestone Mining Corp. is a Canadian-based company that controls a portfolio of gold-copper porphyry exploration targets in British Columbia, Canada. For more information please visit: www.orestone.ca
The securities of the Company and the securities to be issued pursuant to the Private Placement have not and will not be registered under the United States Securities Act of 1933, as amended (the "1933 Act"), or the securities laws of any state of the United States, and may not be offered or sold in the United States absent registration or an applicable exemption therefrom under the 1933 Act and the securities laws of all applicable states.
ON BEHALF OF ORESTONE MINING CORP.
President and CEO
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 News Release. This news release has been prepared by management and no regulatory authority has approved or disapproved the information contained herein.
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