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Orestone Closes $2.24 Million Non-Brokered Private Placement Including Participation of Crescat Capital LLC
Vancouver, British Columbia--(Newsfile Corp. - December 17, 2025) - Orestone Mining Corp. (TSXV:...
About this update from Orestone Mining Corp.
[{"type":"text","content":"Orestone Closes $2.24 Million Non-Brokered Private Placement Including Participation of Crescat Capital LLCVancouver, British Columbia--(Newsfile Corp. - December 17, 2025) - Orestone Mining Corp. (TSXV: ORS) (FSE: O2R2) (\"Orestone\" or the \"Company\") is pleased to announce the completion of its non-brokered private placement originally announced October 10, 2025 and updated October 14, 2025 and October 30, 2025. The Company issued 28,000,000 units (\"Units\") at a price of $0.08 per Unit for gross proceeds of $2,240,000. Each Unit consisted of one common share of the Company (\"Common Share\") and one common share purchase warrant (\"Warrant\"). Each Warrant is exercisable for one Common Share at a price of $0.16 until December 16, 2026 (the \"Private Placement\").The Common Shares and Warrants issued under the Private Placement and the Common Shares issuable upon exercise of the Warrants are subject to a hold period that expires on April 17, 2026. Finders' fees amounting to $14,070 were paid in connection with the Private Placement. The Private Placement is subject to final approval of the TSX Venture Exchange (the \"Exchange\"). The Private Placement included the participation of strategic shareholder, Crescat Capital LLC (\"Crescat\"), who has subscribed for 3,094,461 Units for gross proceeds of $247,556.88. Crescat has subscribed through Crescat Portfolio Management LLC on behalf of its five (5) Pooled Investment Funds.Certain directors, officers and other insiders of the Company (\"Insider Placees\") purchased or acquired direction and control over a total of 5,550,000 Units under the Private Placement, which constituted a \"related party transaction\", within the meaning of TSX Venture Exchange Policy 5.9 and Multilateral Instrument 61-101 - Protection of Minority Security Holders in Special Transactions (\"MI 61-101\") adopted in the Policy. The Company has relied on the exemptions from the formal valuation and minority shareholder approval requirements of MI 61-101 contained in sections 5.5(a) and 5.7(1)(a), respectively, of MI 61-101 in respect of related party participation in the Private Placement on the basis that neither the fair market value of the subject matter of, nor the fair market value of the consideration for, the subscription for Units by the Insider Placees exceeded 25% of the Company's \"market capit...