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Lorito Holdings S.à r.l. and Zebra Holdings and Investments S.à r.l. Acquire Units of Bluestone Resources Inc.

LUXEMBOURG, March 19, 2019 /CNW/ - Zebra Holdings and Investments S.à r.l. ("Zebra") and Lorito Holdings S.à r.l. ("Lorito"), 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 they have acquired ownership and control of 2,845,262 and 1,503,959 unit shares ("Common Shares") respectively of Bluestone Resources Inc. ("Bluestone" or the "Company") (TSX-V:BSR.V - News) at Cdn$1.25 per unit share and also 1,422,631 and 751,980 share purchase warrants ("Warrant(s)") for Can$0.00 per warrant exercisable into one common share of the Company at Cdn$1.65 for a period of 24 months from the date of issuance. The 4,349,221 Units were acquired pursuant to the brokered private placement of Units at Cdn$1.25 each announced by the Company on February 19, 2019.

Prior to the Offering, Lorito owned 7,998,000 common shares or 12.53% and Zebra owned 15,131,000 common shares or 23.71% of the then issued and outstanding shares of Bluestone. With the acquisition of the 4,349,211 unit shares, Lorito now holds 9,501,959 common shares or 11.62% and Zebra now holds 17,976,262 common shares or 21.99% of the issued and outstanding common shares post-closing. Collectively, Lorito and Zebra now own and control 27,478,221 common shares or 33.61% of the issued and outstanding common shares of the Company.

In addition, Lorito and Zebra held no warrants prior to the offering. Through the offering, Lorito now holds 751,980 warrants and Zebra now holds 1,422,631 warrants. Jointly, Lorito and Zebra now hold a total of 2,174,611 warrants exercisable in the same number of common 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.

SOURCE Lorito Holdings S.à.r.l.


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