Vancouver, British Columbia--(Newsfile Corp. - June 15, 2018) - Orestone Mining Corp. (TSXV: ORS) ("Orestone" or the
"Company") is pleased to announce the completion of its non‑brokered private placement announced on June 5, 2018. The Company
issued 1,000,000 units ("Unit") at a price of $0.10 per Unit for gross proceeds of $100,000. Each Unit consisted of one common
share and one-half of one common share purchase warrant of Orestone, with each whole warrant being exercisable for one common share
of Orestone at a price of $0.15 for a term of one (1) year.
Proceeds from the private placement will be used for the Company's general working capital.
The shares and warrants issued under the private placement and the shares issuable upon exercise of the warrants are subject to
a hold period that expires on October 14, 2018.
Certain directors, officers and other insiders of the Company purchased or acquired direction and control over a total of
250,000 Units under the private placement. The placement to those persons constitutes a "related party transaction" within the
meaning of TSX Venture Exchange Policy 5.9 and Multilateral Instrument 61‑101 ‑Protection of Minority Security Holders
in Special Transactions ("MI 61‑101") adopted in the Policy. The Company has relied on exemptions from the formal
valuation and minority shareholder approval requirements of MI 61‑101 contained in sections 5.5(a) and 5.7(1)(a) of
MI 61‑101 in respect of related party participation in the placement. Further details will be included in a material change
report to be filed by the Company. The material change report will not be filed more than 21 days prior to closing of the
placement due to there being less than 21 days between the date of the insiders' subscription agreements and the closing of the
placement.
No finders' fees were paid in connection with the private placement.
NO U.S. REGISTRATION
The securities referred to in this news release 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 applicable securities laws of any state of the United States, and may
not be offered or sold within the United States or to, or for the account or benefit of, U.S. persons (as such term is defined
in Regulation S under the U.S. Securities Act) or persons in the United States unless registered under the U.S. Securities Act
and any other applicable securities laws of the United States or an exemption from such registration requirements is available.
This press release does not constitute an offer to sell or a solicitation of an offer to buy any of these securities within any
jurisdiction, including the United States.
ON BEHALF OF ORESTONE MINING CORP.
"David Hottman"
President and CEO
For further information, contact:
David Hottman
604-629-1929
info@orestone.ca
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.
NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES
