News Release
TSX-V: ORS
2012-13 September 25, 2012
For further information contact: David Hottman, President & CEO E-mail: [email protected] or Anthony Zelen, Senergy Communications Telephone: 778-331-2028 E-mail: [email protected]
750 – 625 Howe Street, Vancouver, BC V6C 2T6, Canada : Phone: 604-629-1929 ♦ Website: www.orestone.ca NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES
ORESTONE ANNOUNCES $1.25 MILLION DOLLAR PRIVATE PLACEMENT
Orestone Mining Corp. (TSX Venture Exchange–Symbol: ORS) (the “Company”) is pleased to announce a nonbrokered private placement consisting of a maximum of 6,00 0,000 units (“Units”) at a price of $0.10 per Unit and a maximum of 5,000,000 units (“Flow-Through Units”) at a pr ice of $0.125 per Flow-Through Unit for aggregate gross proceeds of up to $1,250,000 (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 common share purchase warrant, an “A Warrant”).
Each A 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. Each Flow-Through Unit will consist of one common share of the Compan y to be issued on a “flowthrough” basis pursuant to the Income Tax Act (Canada) and one-half of one common share purchase warrant (each whole common share purchase warrant, a “B Warrant”). Each B Warrant will be exercisable for one common share of the Company at a price of $0.17 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 finder’s fee consisting of (a) a fee equal to up to 7% of the gross proceeds of the Private Placement, payable in cash, Units of the Company, or an y combination thereof; and (b) issuing non-transferable finder’s warrants equal to up to 7% of the number of Un its and/or Flow-Through Units sold under the Private Placement, each finder’s warrant entitling the holder thereo f to acquire one common share of the Company at an exercise price of $0.10 for one year from the closing date.
The closing date is anticipated to be on or about October 5, 2012 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 Placeme nt will be used for exploration and development of the Company’s mineral property portfolio a nd for general corporate purposes. Orestone currently has 16,397,323 shares issued and outstanding.
Orestone directors Gary Nordin and Bob Wasylyshyn have initiated a global project search focused on the acquisition of high potential assets to compliment the Company’s curre nt portfolio. 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 wh ere the Company’s 50 square kilomete r 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 regist ered 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.
David Hottman
President and CEO
News Release
TSX-V: ORS
2012-13 September 25, 2012
For further information contact: David Hottman, President & CEO E-mail: [email protected] or Anthony Zelen, Senergy Communications Telephone: 778-331-2028 E-mail: [email protected]
750 – 625 Howe Street, Vancouver, BC V6C 2T6, Canada : Phone: 604-629-1929 ♦ Website: www.orestone.ca
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.