Orestone Mining Corp. (TSX Venture Exchange–Symbol: ORS) (“Orestone” or the “Company”) is pleased to announce its intention to proceed with a non-brokered private placement.
Under the private placement, the Company proposes to issue up to 4,000,000 units (“Units”) at a price of $0.05 per Unit for gross proceeds of up to $200,000. Each unit will consist of one common share of the Company and one common share purchase warrant (a “Warrant”); each Warrant will entitle the holder to purchase one common share of the Company at a price of $0.10 within two years of closing. A finder’s fee of 6% may be paid in cash on a portion of this Private Placement.
The net proceeds of the private placements will be used for general working capital.
The Private Placements are subject to the approval of the TSX Venture Exchange.
Orestone Mining Corp. is a Canadian-based company that controls a portfolio of gold-copper exploration targets in British Columbia, Canada. For more information please visit: www.orestone.ca.
ON BEHALF OF ORESTONE MINING CORP.
President and CEO
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.