Bluestone Resources Inc. (TSXV:BSR) announced a best effort private placement of subscription receipts for a minimum gross proceeds of CAD 40,000,000 on January 11, 2017. Each subscription receipt will entitle the holder to receive one common share of the company on four months and one day after the closing of the transaction or the third business day following the issuance of a receipt for a final short form prospectus qualifying the common shares underlying the subscription receipts, whichever is earlier. The securities issued are subject to hold period of four months and one day. The transaction is expected to close on March 15, 2017. The transaction is subject to approval from TSX Venture Exchange.