VANCOUVER, British Columbia, June 20, 2017 (GLOBE NEWSWIRE) — Bluestone Resources Inc. (TSX VENTURE:BSR) (“Bluestone” or the “Company”) is pleased to announce the Company’s common shares will recommence trading on the TSX Venture Exchange at the opening of market on June 22, 2017.
Further to the Company’s press releases dated June 8, 2017 and June 16, 2017, the Company has completed all matters relating to the acquisition of the Cerro Blanco and Mita projects from Goldcorp and related financings including the issuance of the following securities effective June 20, 2017:
(a) 53,333,333 common shares upon the exercise of the 53,333,333 previously issued subscription receipts;
(b) 2,522,699 units (each consisting of one share and one half warrant) upon conversion of the previously issued $3,829,075 principal amount of convertible notes;
(c) 3,099,160 common shares to Goldcorp Inc. upon the exercise of special warrants previously issued to Goldcorp in connection with the acquisition of the Cerro Blanco and Mita projects;
(d) 4,935,000 incentive stock options exercisable for three years at a price of $1.50 per share; and
(e) 500,000 common shares upon closing of the previously announced private placement at $1.50 per share, for gross proceeds of $750,000 raised for general working capital purposes, which shares are subject to a Canadian securities law resale restriction period expiring October 21, 2017.
Upon recommencement of trading, the Company will have 63,748,146 common shares, 5,281,723 warrants and 4,935,000 incentive stock options outstanding.
On behalf of the Board
Bluestone Resources Inc.
John Robins, Chairman and Chief Executive Officer
For further information, contact:
John Robins at (604) 657-6226
Forward Looking Statements
Certain information set forth in this news release contains “forward-looking statements”, and “forward- looking information” under applicable securities laws. All statements, other than those of historical fact, which address activities, events, outcomes, results or developments that the Company anticipates or expects may, or will occur in the future (in whole or in part) should be considered forward-looking statements and can generally be identified by the use of forward-looking terminology such as “plans”, “expects” or “does not expect”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates” or “does not anticipate”, or “believes” or variations of such words and phrases or state that certain actions, events or results “may”, “could”, “would”, “might” or “will be taken”, “occur”, “be achieved or has the potential to”. Forward-looking statements contained in this press release include: future performance based on current results; expected cash costs; and estimates of Cerro Blanco economics, including estimates of capital costs of constructing mine facilities and bringing a mine into production and of sustaining costs, net present value and proposed production timelines and rates. Such forward-looking statements necessarily involve known and unknown risks and uncertainties, which may cause the Company’s actual performance and financial results in future periods to differ materially from any projections of future performance or results expressed or implied by such forward-looking statement. These risks and uncertainties include, but are not limited to: liabilities inherent in mine development and production; geological risks; the financial markets generally; risks and uncertainties related to expected production rates, timing and amount of production and total costs of production; risks and uncertainties related to the accuracy of mineral resource estimates and of future production, future cash flows, total costs of production and diminishing quantities or grades of mineral resources; risks associated with geopolitical uncertainty and political and economic instability in Guatemala; and changes in laws and regulations, including, without limitation, the adoption of new environmental and tax laws and regulations and changes in who they are interpreted and enforced. The Company cautions that the foregoing list of assumptions, risks and uncertainties is not exhaustive. There can be no assurance that such forward-looking statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Any forward-looking statement speaks only as of the date on which it was made, and the Company undertakes no obligation to update forward-looking statements if circumstances or management’s estimates or opinions should change, except as required by applicable securities laws. The reader is cautioned not to place undue reliance on forward-looking statements.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibilities for the adequacy or accuracy of this release.