VANCOUVER, BRITISH COLUMBIA--(Marketwired - Dec. 9, 2016) -
NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES
Finore Mining Inc. ("Finore" or the "Company")
(CSE:FIN)(CSE:FIN.CN)(OTC PINK:FNREF) is pleased to announce that it has closed its previously
announced non-brokered private placement for gross proceeds of $1,423,997 through the sale of 5,177,379 Units. Each Unit is
comprised of one common share ("Common Share") at $0.275 cents, and one transferable common share purchase warrant ("Warrant")
exercisable at $0.40 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 $0.55 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 $26,864 and issued 102,691 broker warrants
which are exercisable at $0.40 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 Company also announces that the board of directors of the Company has appointed Jackson & Company, Chartered Accountants
as the Company's new auditor, replacing Davidson & Company LLP. The Company has filed a Notice of Change of Auditors in respect
of this change under its profile on SEDAR at www.sedar.com.
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.