VANCOUVER, Jan. 11, 2012 - Bluestone Resources Inc. (formerly Indicator Minerals Inc.) (the "Company" or "Bluestone") (TSX VENTURE: BSR) today announced that it intends to complete a non-brokered private placement of up to $750,000, comprised of units at a price of $0.15 per unit. Each unit will consist of one common share and one common share purchase warrant. Each common share purchase warrant will be exercisable into one common share for a period of five years from closing at a price of $0.20 per share. The terms and completion of the private placement are subject to TSX Venture Exchange approval.
All securities issued in the private placement will be subject to a four-month hold period from the closing of the private placement. The Company may pay finder's fees in connection with the private placement. The Company intends to use the proceeds of the private placement to advance Bluestone's exploration properties and for general working capital purposes.
About Bluestone Resources Inc.:
Bluestone Resources Inc. is a Canadian exploration company focused on the discovery and development of economic mineral deposits. The Company has assembled one of the most qualified technical teams in worldwide exploration.
On behalf of the Board, Bluestone Resources Inc.
Bruce Counts, P. Geoph. President & CEO
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
NOT FOR DISSEMINATION IN THE UNITED STATES OR THROUGH U.S. NEWSWIRES.
Contact
Bluestone Resources Inc. Bruce Counts, President & CEO (604) 331-4605 www.bluestoneresources.ca
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VANCOUVER, Jan. 11, 2012 - Bluestone Resources Inc. (formerly Indicator Minerals Inc.) (the "Company" or "Bluestone") (TSX VENTURE: BSR) today announced that it intends to complete a non-brokered private placement of up to $750,000, comprised of units at a price of $0.15 per unit. Each unit will consist of one common share and one common share purchase warrant. Each common share purchase warrant will be exercisable into one common share for a period of five years from closing at a price of $0.20 per share. The terms and completion of the private placement are subject to TSX Venture Exchange approval.
