Bluestone Closes $737,480 First Tranche of Private Placement
VANCOUVER, BRITISH COLUMBIA--(Marketwired - June 4, 2015) -
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Bluestone Resources Inc. (the "Company" or "Bluestone") (TSX VENTURE:BSR) today announced that it has closed the first tranche of the private placement of units, announced on May 11, 2015 The Company issued 14,749,600 units at a price of $0.05 per unit for gross proceeds of $737,480.
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 with 2,980,000 expiring on October 3, 2015 and the remainder of 11,769,600 on October 5, 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