Momentum Public Relations
Press Release: February 19, 2019
Bluestone Resources Inc. (TSXV:BSR | OTCQB:BBSRF) (the “Company” or “Bluestone”) announces that the Company has entered into an agreement with Cormark Securities Inc. to act as lead underwriter (the “Lead Underwriter”) and a syndicate of underwriters (collectively with the Lead Underwriter, the “Underwriters”) to purchase on a “bought deal” private placement basis (the “Offering”), up to $10,000,000 of units of the Company (the “Units”) at a price of $1.25 per Unit (the “Offering Price”).
Each Unit will consist of one common share of the Company (a “Unit Share”) and one-half of one common share purchase warrant (each whole common share purchase warrant, a “Warrant”). Each Warrant will entitle the holder to acquire one common share of the Company for 24 months from the closing of the Offering at a price of $1.65.
The Company has also granted to the Underwriters the option to sell up to an additional $5,000,000 of Units, exercisable until the date which is two days prior to the closing date.
The net proceeds of the Offering will be used towards advancing the Cerro Blanco Gold Project and for general corporate purposes.
Closing of the offering is anticipated to occur on or before March 12, 2019 and is subject to receipt of applicable regulatory approvals including approval of the TSXV.
This news release does not constitute an offer of securities for sale in the United States. The securities being offered have not been, nor will they be, registered under the Unites States Securities Act of 1933, as amended, and such securities may not be offered or sold within the United States absent U.S. registration or an applicable exemption from U.S. registration requirements.
About Bluestone Resources Inc.
Bluestone Resources is a mineral exploration and development company that is focused on advancing its 100%-owned Cerro Blanco Gold and Mita Geothermal projects located in Guatemala. A Feasibility Study on Cerro Blanco returned robust economics with a quick pay back. The average annual production is projected to be 146,000 ounces per year over the first three years of production with all-in sustaining costs of $579/oz (as defined per World Gold Council guidelines, less corporate general and administration costs). The Company trades under the symbol “BSR” on the TSX Venture Exchange and “BBSRF” on the OTCQB.
On Behalf of Bluestone Resources Inc.
“Darren Klinck”
Darren Klinck | President, Chief Executive Officer & Director
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 release.