DGAP-News

Electra Stone Ltd.: Electra Announces $2,000,000 Non-Brokered Private Placement

DGAP-News: Electra Stone Ltd. / Key word(s): Capital Increase/Private
Equity
Electra Stone Ltd.: Electra Announces $2,000,000 Non-Brokered Private
Placement

22.05.2015 / 12:57

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May 21, 2015
TSX.V Symbol: ELT

Electra Announces $2,000,000 Non-Brokered Private Placement

Vancouver, British Columbia - Electra Stone Ltd. (TSX Venture: ELT;
Frankfurt WKN: A14NCM; "Electra") is pleased to announce that the Company
has arranged for a non-brokered private placement (the "Private Placement")
of 40,000,000 units (the "Units") at a subscription price of $0.05 per Unit
to an individual subscriber for gross proceeds of up to $2,000,000. This
private placement will result in a change of control of Electra and will
require shareholder approval prior to its completion.

Each Unit will consist of one common share and one-half of a share purchase
warrant. Each whole warrant will be exercisable into one additional common
share (the "Warrant Share") of the Company at $0.10 per Warrant Share for a
period of two years from closing of the Private Placement.

The common shares issued or issuable pursuant to the Private Placement will
be restricted from trading for a four month hold period in accordance with
applicable securities laws and policies of the TSX Venture Exchange (the
"Exchange"). Completion of the Private Placement is subject to a number of
conditions, including, without limitation, receipt of all regulatory
approvals, including approval of the Exchange and approval by the
shareholders of the Company.

Finders fees are payable in connection with the private placement of 8% in
units. The units are comprised of one common share and one-half of a share
purchase warrant exercisable at $0.10 per share for a period of two years
from closing.

The net proceeds of the Private Placement will be used to advance the
Company's operations and for general and corporate purposes.

About Electra Stone

Electra Stone Ltd. (the "Company") (formerly Electra Gold Ltd.) is a mining
company, specializing in the development of and exploration for industrial
minerals and dimensional stone. The Company is in the process of mining
the Apple Bay mineral properties located on Vancouver Island near Port
Hardy, British Columbia. The mineral claims are located on crown land
within the traditional territory of Quatsino First Nation Band. The