Bluestone Oversubscribes and Closes $199,164 Second and Final Tranche of Private Placement for a Total Raise of $936,644
VANCOUVER, BRITISH COLUMBIA--(Marketwired - July 7, 2015) -
THIS NEWS RELEASE IS NOT INTENDED FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES AND DOES NOT CONSTITUTE AN OFFER OF THE SECURITIES DESCRIBED HEREIN
Bluestone Resources Inc. (the "Company" or "Bluestone") (TSX VENTURE:BSR) today announced that it has closed the second and final tranche the private placement of units, announced on May 11, 2015. The Company issued 3,983,280 units at a price of $0.05 per unit for gross proceeds of $199,164. On June 4, the Company issued a news release announcing the closing of the first tranche of the private placement whereby it issued 14,749,600 units at a price of $0.05 per units for a gross proceeds of $737,480.
With the closing of the second and final tranche, Bluestone has raised an aggregate of $936,644 through the issuance of 18,732,880 units.
Each unit consisted of one common share and one common share purchase warrant. Each common share purchase warrant is exercisable into one common share for a period of five (5) years from closing at a price of $0.07 per share.
All securities issued will be subject to a four-month hold period expiring on November 8th, 2015. The Company intends to use the proceeds of the private placement for general working capital purposes.
No finders fees were paid with respect to the funds received during the first tranche of this private placement.
About Bluestone Resources Inc.:
Bluestone Resources Inc. is a Canadian exploration company focused on the discovery and development of economic mineral deposits. Founded in 2004, the Company has assembled a team with the business acumen and technical expertise to identify and advance undervalued mineral exploration projects world-wide.
On behalf of the Board
Bluestone Resources Inc.
John Robins, President, CEO & Director
For further information about Bluestone Resources Inc. or this news release, please visit our website at www.bluestoneresources.ca.