VANCOUVER, BRITISH COLUMBIA--(Marketwired - Nov. 9, 2016) - Finore Mining Inc.
("Finore" or the "Company") (CSE:FIN) (CSE:FIN.CN) (OTCQX:FNREF) is pleased to
announce that it has closed its previously announced, oversubscribed, non-brokered private placement for gross proceeds
of $2,200,000 through the sale of 14,666,664 Units. Each Unit is comprised of one common share ("Common Share") at $0.15 cents,
and one transferable common share purchase warrant ("Warrant") exercisable at $0.25 cents per common share for a period of 24
months from the date of closing. All warrants are subject to an early acceleration provision which provides for the mandatory
exercise or expiry of the Warrants in the event the Company's shares close at $0.35 or higher for at least 10 consecutive trading
days. In such event, the Warrants will accelerate and expire 30 days after the Company has given notice of the accelerated
conversion to the Warrant holders.
All of the securities issued in the private placement will be subject to a securities law hold period of 4 months and a day.
In connection with the private placement, the Company paid a cash finder's fee of $56,412 and issued 376,080 broker warrants
which are exercisable at $0.25 cents per common share for a period of 24 months from the date of closing. The proceeds of
the private placement will be used for working capital purposes.
The CSE does not accept responsibility for the adequacy or accuracy of this release.
This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities
in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as
amended (the "U.S. Securities Act"), or any state securities laws and may not be offered or sold within the United States or to
U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such
registration is available.
Cautionary Statement Regarding "Forward-Looking" Information
The forward-looking information contained in this press release is made as of the date of this press release and, except as
required by applicable law, the Company does not undertake any obligation to update publicly or to revise any of the included
forward-looking information, whether as a result of new information, future events or otherwise, except as may be required by
law. By its very nature, such forward-looking information requires the Company to make assumptions that may not materialize or
that may not be accurate. This forward-looking information is subject to known and unknown risks and uncertainties and other
factors, which may cause actual results, levels of activity and achievements to differ materially from those expressed or implied
by such information.