|By Marketwire .||
|January 28, 2013 02:05 PM EST||
EDMONTON, ALBERTA -- (Marketwire) -- 01/28/13 -- Firestone Ventures Inc. ("Firestone" or the "Corporation") (TSX VENTURE:FV)(FRANKFURT:F5V) announces that it will be offering on a non-brokered private placement basis common share units ("Units") and flow-through units ("FT Units") at $0.06 per Unit and FT Unit for aggregate gross proceeds of up to $300,000 (the "Offering"). Each Unit will consist of one common share and one share purchase warrant ("Warrant") where each Warrant will have an exercise price of $0.10 and an expiry date of 18 months. Each FT Unit will consist of one flow-through common share and one half of a Warrant. Each whole Warrant will have an exercise price of $0.10 and an expiry date of 18 months. Insiders of Firestone will participate in the Offering. The securities to be issued will be subject to a four month resale restriction. The net proceeds from the placement will be used for exploration on existing properties and for general working capital.
The Offering will be conducted in reliance upon certain prospectus and registration exemptions. The Corporation may pay, in accordance with TSX Venture Exchange policy, finder's fees to agents for obtaining subscriptions. Completion of the Offering is subject to acceptance by the TSX Venture Exchange.
Firestone also announces the Corporation has issued 2,535,000 stock options to directors, officers, consultants and employees with an exercise price of $0.10 per common share and an expiry date of two years from the date of the grant.
Firestone Ventures Inc. is a Canadian-based resource exploration and development company with zinc-lead-silver projects in Central America. The common shares of the Company are currently listed on the TSX Venture Exchange (symbol FV) and the Frankfurt Stock Exchange (symbol F5V).
Neither 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.