Michael Gentile Report of Acquisition of Beneficial Ownership of Common Shares of Orestone Mining Corp.
Vancouver, British Columbia--(Newsfile Corp. - June 1, 2020) - Michael Gentile ("Gentile") reports that through the private placement purchase on May 29, 2020 (the "Private Placement") of 3,875,000 units ("Units") of Orestone Mining Corp. (TSXV: ORS) ("Orestone") at Cdn $0.08 per Unit for total consideration paid of Cdn $310,000, he has acquired 3,875,000 common shares ("Common Shares") representing 9.99% of the outstanding Common Shares, and 3,875,000 warrants ("Warrants") of Orestone. Each Unit consisted of one Common Share and one Warrant, with each Warrant being exercisable to purchase one Common Share at Cdn $0.12 until May 29, 2022. As a result, he has acquired deemed beneficial ownership and control of 7,750,000 Common Shares of Orestone
Immediately prior to the Private Placement, Gentile did not beneficially own or control any Common Shares of Orestone. Gentile currently has deemed beneficial ownership of 7,750,000 Common Shares of Orestone (including 3,875,000 Common Shares underlying share purchase warrants of Orestone held by Gentile), representing 18.16% of the deemed outstanding Common Shares, which is an increase of 18.16% of Gentile's beneficial shareholding percentage in the Common Shares.
Gentile has acquired the Common Shares for investment purposes. Gentile may, depending on market and other conditions, or as future circumstances may dictate, from time to time, on an individual or joint basis, increase or dispose of some or all of the existing or additional securities he holds or will hold, or may continue to hold.
A copy of the related early warning report may be obtained from the SEDAR website (www.sedar.com) or from Michael Gentile at 514-591-4227.
305 Av. Brock North
Montreal-West, Quebec H4X 2G4
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