BBSRF - Bluestone inks contract for $30M loan to advance Cerro Blanco Gold project

Bluestone Resources (OTCQB:BBSRF) said it established a $30M loan with Zebra Holdings and Investments, and Lorito Holdings. The loan will provide for the drawdown of funds by the company in tranches of net less than $1M. In consideration for the loan, the company issued 150K common shares and will issue an additional 4K shares/month for each $1M of the principal amount outstanding under the Loan up to March 11, 2023. The company said proceeds will be mainly used for general corporate purposes and to advance the Cerro Blanco gold project through engineering and permit approval.

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Bluestone inks contract for $30M loan to advance Cerro Blanco Gold project