Orestone Increases Flow-Through Private Placement to $650,000
News Release
TSX-V: ORS
2019-11
August 21, 2019
For further information contact: David Hottman at 604-629-1929 ⧫ [email protected]
407 – 325 Howe Street, Vancouver, BC V6C 1Z7, Canada ⧫ Phone: 604-629-1929 ⧫ Fax: 604-629-1930 ⧫ www.orestone.ca
NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES
ORESTONE INCREASES FLOW-THROUGH PRIVATE PLACEMENT TO $650,000
• COMPLETES $251,800 FIRST TRANCHE
Orestone Mining Corp. (TSX Venture Exchange–Symbol: ORS) (the “Company”) is pleased to announce that due
to demand from investors, it has increased the maximum size of its previously announced non -brokered private
placement (see news release dat ed July 8, 2019) to 4,062,500 units of the Company (each, a “ Unit”) for aggregate
gross proceeds of $650,000 (as so increased, the “Offering”).
The terms of the Offering remain as disclosed in the Company’ s news release dated July 8, 2019. Each Unit consists
of one common share of the Company qualifying as a “flow -through” share pursuant to the Income Tax Act (Canada)
(a “Flow-Through Share”) at a price of $0.16 per Flow-Through Share and one-half of one common share purchase
warrant, with each whole warrant being exercisab le to purchase one (non flow-through) common share of the
Company at a price of $0.22 for a term of one year.
In addition, the Company is pleased to announce the completion of the first tranche of the Offering. The Company
issued a total of 1,573,750 Units for gross proceeds of $251,800. The closing of the second tranche of the Offering
will be subject to receipt of conditional approval by the TSX Venture Exchange for the increase in the Offering.
The Company will use the proceeds of the Offering to incur qualifying Canadian exploration expense s in connection
with exploration drilling on the Company’s Captain Gold Copper Porphyry Project located in British Columbia . The
Company will renounce such applicable exploration expenses to subscribers under the Offering.
The shares and warrants issued under the first tranche of the Offering and the shares issuable upon exercise of the
warrants are subject to a hold period that expires on December 21, 2019.
Finders’ fees amounting to $3,840 were paid in connection with the first tranche of the Offering.
ABOUT ORESTONE
Orestone Mining Corp. (TSX.V: ORS) is a Canadian based company managed by mining industry professionals. The
Company controls a portfolio of gold and gold-copper exploration projects in Chile and British Columbia, Canada. The
Resguardo project is a drill ready project located 90 km northeast of the City of Copiapo in Region III, Chile. The
region is host to many world class gold and copper deposits. The Captain project hosts the Admiral target, a large drill
ready gold/copper porphyry system located 30 kilometres south of the Mt Milligan Mine in British Columbia. For more
information please visit: www.orestone.ca
ON BEHALF OF ORESTONE MINING CORP.
David Hottman
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.
News Release
TSX-V: ORS
2019-11
August 21, 2019
For further information contact: David Hottman at 604-629-1929 ⧫ [email protected]
407 – 325 Howe Street, Vancouver, BC V6C 1Z7, Canada ⧫ Phone: 604-629-1929 ⧫ Fax: 604-629-1930 ⧫ www.orestone.ca
FORWARD-LOOKING STATEMENTS
This news release cont ains “forward -looking statements” within the meaning of Canadian securities legislation. Such
forward-looking statements concern expected subscriptions and closing of the Offering, net proceeds from the Offering, the
intended use of proceeds. Such forward -looking statements or information are based on a number of assumptions which may prove
to be incorrect. Assumptions have been made regarding, among other things: conditions in general economic and financial marke ts;
timing and amount of capital expenditure s; and effects of regulation by governmental agencies. The actual results could differ
materially from those anticipated in these forward -looking statements as a result of risk factors including: the availability of funds;
the timing and content of work pr ograms; results of exploration activities of mineral properties; the interpretation of drilling results
and other geological data; and general market and industry conditions. Forward -looking statements are based on the expectations
and opinions of the Comp any’s management on the date the statements are made. The assumptions used in the preparation of such
statements, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, readers are
cautioned not to place undue re liance on these forward -looking statements, which speak only as of the date the statements were
made. The Company undertakes no obligation to update or revise any forward -looking statements included in this news release if
these beliefs, estimates and opinions or other circumstances should change, except as otherwise required by applicable law.