Bluestone Resources Inc. (TSXV:BSR | OTCQB:BBSRF) (“Bluestone” or the “Company” – https://www.commodity-tv.com/play/point-and-figure-analysis-of-gold-uranium-selected-mining-stocks ) announced today that it has entered into an agreement with a syndicate of underwriters led by Canaccord Genuity Corp. 
(the “Underwriters”), pursuant to which the Underwriters will purchase, on a bought deal basis, 45,720,000 common shares (the “Common Shares”) of the Company at a price of C$1.75 per Common Share (the “Offering Price”) for aggregate gross proceeds to the Company of C$80,010,000 (the “Offering”).
The Company has agreed to grant the Underwriters an over-allotment option to purchase up to an additional 6,858,000 Common Shares at the Offering Price, exercisable, in whole or in part, at any time and from time to time on or prior to the date that is 30 days following the closing of the Offering to cover over-allotments, if any, and for market stabilization purposes. If this option is exercised in full, an additional C$12,001,500 in gross proceeds will be raised pursuant to the Offering and the aggregate gross proceeds of the Offering will be C$92,011,500.
The net proceeds from the Offering will be used to advance the Cerro Blanco project, as well as for working capital and general corporate purposes.
The Common Shares will be offered by way of a prospectus supplement to be filed in all provinces of Canada, except Québec. The Common Shares will also be sold to U.S. buyers on a private placement basis pursuant to an exemption from the registration requirements of the United States Securities Act of 1933, as amended, and other jurisdictions outside of Canada provided that no prospectus filing or comparable obligation arises.
The Offering is scheduled to close on or about May 4, 2020 and is subject to certain conditions including, but not limited to, the receipt of all necessary approvals including the approval of the TSX Venture Exchange and the securities regulatory authorities.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy securities in the United States, nor shall there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful. The securities being offered have not been, nor will they be, registered under the United States Securities Act of 1933, as amended (the “1933 Act”) or under any U.S. state securities laws, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the 1933 Act, as amended, and applicable state securities laws.
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