Orestone Closes $2.24 Million Non-Brokered Private Placement Including Participation of Crescat Capital LLC

Core Viewpoint - Orestone Mining Corp. has successfully completed a non-brokered private placement, raising a total of $2,240,000 through the issuance of 28,000,000 units at a price of $0.08 per unit [1][2]. Group 1: Private Placement Details - The private placement consisted of units, each comprising one common share and one common share purchase warrant, with the warrants exercisable at $0.16 until December 16, 2026 [2]. - A hold period for the common shares and warrants will expire on April 17, 2026, and finders' fees of $14,070 were paid in connection with the placement [3]. - Strategic shareholder Crescat Capital LLC participated by subscribing for 3,094,461 units, contributing gross proceeds of $247,556.88 [4]. Group 2: Insider Participation - Certain insiders of the company purchased a total of 5,550,000 units, which is classified as a related party transaction under TSX Venture Exchange Policy 5.9 [5]. - The company relied on exemptions from formal valuation and minority shareholder approval requirements due to the transaction's value not exceeding 25% of the company's market capitalization [5]. Group 3: Use of Proceeds - The net proceeds from the private placement will be allocated to further development of the Francisca property in Salta Province, Argentina, the Captain property in British Columbia, Canada, and for general administrative expenses and working capital [6]. Group 4: Company Overview - Orestone Mining Corp. is a Canadian company with a management team experienced in the mining sector, focusing on gold, silver, and copper projects in Canada and Argentina [7]. - The company's immediate objective for the Francisca property is to define an oxide gold deposit suitable for open-pit mining, while the Captain project is a permitted and drill-ready gold-copper project [7].