Orestone Mining closes $2.24-million private placement

Dec 18, 2025

2025-12-17 17:35 ET – News Release

Mr. David Hottman reports

ORESTONE CLOSES $2.24 MILLION NON-BROKERED PRIVATE PLACEMENT INCLUDING PARTICIPATION OF CRESCAT CAPITAL LLC

Orestone Mining Corp. has completed its non-brokered private placement originally announced Oct. 10, 2025, and updated Oct. 14, 2025, and Oct. 30, 2025.

The company issued 28 million units at a price of eight cents per unit for gross proceeds of $2.24-million. Each unit consisted of one common share of the company and one common share purchase warrant. Each warrant is exercisable for one common share at a price of 16 cents until Dec. 16, 2026.

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 private placement included the participation of strategic shareholder Crescat Capital LLC, which 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 pooled investment funds.

Certain directors, officers and other insiders of the company (insider placees) purchased or acquired direction and control over a total of 5.55 million 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, 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 per cent of the company’s market capitalization (as calculated for the purposes of MI 61-101). Further details will be included in the company’s material change report to be filed. The material change report will not be filed more than 21 days prior to closing of the private placement as the details of the participation of the insider placees had not been confirmed at that time.

The company intends to use the net proceeds from the private placement: (i) to further develop its Francisca property located in Salta province, Argentina; (ii) to further develop its Captain property, located in the province of British Columbia, Canada; and (iii) for general administrative expenses and working capital purposes.

About Orestone Mining Corp.

Orestone Mining is a Canadian-based company with an internationally experienced management team. The board of directors and management team have experience in all aspects of the mining business, having been involved in numerous corporate and project-level successes. Orestone’s property portfolio includes exposure to gold, silver and copper on projects located in Canada and Argentina. Orestone Mining’s near-term objective on the Francisca property, located in Salta, Argentina, is to define an oxide gold deposit minable by open-pit methods. The company’s 100-per-cent-owned Captain gold-copper project, located in British Columbia, hosts a large gold-dominant porphyry system that is permitted and drill ready. Both projects are road accessible and suitable for exploration year-round.

We seek Safe Harbor.

https://orestone.ca/