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Lorito Holdings S.a.r.l. and Zebra Holdings and Investments S.a.r.l. Acquire Subscription Receipts of Bluestone Resources Inc.

/EINPresswire.com/ -- LUXEMBOURG, LUXEMBOURG--(Marketwired - Apr 21, 2017) - Lorito Holdings S.à.r.l. ("Lorito") and Zebra Holdings and Investments S.à.r.l. ("Zebra"), two companies controlled by a trust settled by the late Adolf H. Lundin, and as such joint actors, both incorporated under the laws of Luxembourg, 40, Boulevard Grande Duchesse Charlotte, L-1330 Luxembourg, announced today that on April 20, 2017 they had acquired ownership and control of 19,867,000 subscription receipts ("SRs") of Bluestone Resources Inc. ("Bluestone" or the "Company") (TSX-V: BSR). Prior to Bluestone's closing of its agreement with Goldcorp Inc. to acquire 100% of Goldcorp's Cerro Blanco Gold project and Mita Geothermal project in Guatemala and the concurrent financings as described in the press releases issued by the Company dated January 11, 2017, February 6, 2017, February 7, 2017 and February 28, 2017 (the "Transaction"), the Company intends to undertake a common share consolidation on a 5:1 basis.

The SRs were acquired pursuant to a brokered private placement (the "Offering") of an aggregate 53,333,333 SRs for gross proceeds to Bluestone of Can$80,000,000.- as described in the press releases of the Company. Each SR was purchased at a price of Can$1.50 per SR, and, upon satisfaction of certain escrow release conditions, entitles the holder thereof to receive one post-consolidated common share of Bluestone without further payment or action on the part of the holder.

Prior to the Offering, Lorito and Zebra collectively owned no common shares or 0% of the then issued and outstanding shares of Bluestone. With the acquisition of the 19,867,000 SRs, Lorito and Zebra would be entitled to receive a total of 19,867,000 pre-consolidation common shares of Bluestone which would bring their holdings to a total of approximately 74.45% of the issued and outstanding post-consolidated common shares of the Company, before giving effect to the shares issuable in connection with the Transaction and to the other subscribers in the Offering.

Assuming the closing of the Transaction, and taking into account all of the shares expected to be issued upon exercise of the SRs, Lorito will hold 6,367,000 shares or approximately 10.07% and Zebra will hold 13'500'000 shares or approximately 21.34% of the then issued and outstanding post-consolidated common shares of Bluestone. Lorito and Zebra collectively will hold and control 19,867,000 shares or approximately 31.41% of the then issued and outstanding post-consolidated shares of the Company.

Lorito and Zebra are joint actors with respect to their common shares of Bluestone which were acquired for investment purposes. Each of Lorito and Zebra may from time to time increase or decrease their investment in the shares of Bluestone depending upon the business and prospects of Bluestone and depending upon future market conditions.

A copy of the Early Warning Report filed pursuant to National Instrument 62-103 may be obtained from Sandy Kansky, 1-604-806-3574.

Aksel Azrac
011 41 22 595 1875

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