Orestone Announces $250 Thousand Dollar Private Placement
NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES
Orestone Mining Corp. (TSX Venture Exchange-Symbol: ORS) (the “Company”) is pleased to announce a non-brokered private placement consisting of a maximum of 2,941,176 units (“Units”) at a price of $0.085 per Unit for aggregate gross proceeds of up to $250,000 (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 $0.14 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 7% of the gross proceeds of the Private Placement.
The closing date is anticipated to be on or about June 20, 2013 or such later date as the Corporation may determine. 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 exploration and development of the Company’s Captain Gold/Copper Porphyry Property near Ft. St. James, British Columbia where drilling is anticipated to begin in the coming weeks.
Within B.C., Canada the Company has recently discovered a large copper/gold porphyry system on the 100% owned Captain Project and is seeing increased interest in the Stewart Mining Camp where the Company’s 50 square kilometer Todd Creek (51%) asset is located. For additional 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.