Welcome, Guest Login | Signup | Portfolio | Bookmark | Contact
Markets

Symbol Name
Click for Symbol Help




Cornerstone Arranges $2.5 Million Private Placement

Marketwire.com - Sep 14, 2011

MOUNT PEARL, NEWFOUNDLAND--(Marketwire - Sept. 14, 2011) -

NOT FOR DISTRIBUTION TO US NEWSWIRE SERVICES NOR FOR DISSEMINATION IN THE UNITED STATES OF AMERICA

Cornerstone Capital Resources Inc. ("Cornerstone") (TSX VENTURE:CGP) (FRANKFURT:GWN) (BERLIN:GWN) (PINK SHEETS:CTNXF) announces that it is proposing to raise $2.5 million by way of a non-brokered private placement of 12.5 million units at $0.20 per unit. Each unit will consist of one common share and one non-transferable common share purchase warrant. Each warrant will entitle the holder to purchase one common share for a period of five years at a purchase price of $0.30. If, after the four month anniversary of closing, the volume weighted average price of Cornerstone's shares on the TSX Venture Exchange for any consecutive 20 days of trading is equal to or greater than $0.40, Cornerstone may, at its discretion within the following five trading days, provide notice of an earlier expiry date of the warrants, in which case the warrants will expire 30 trading days after giving such notice.

There will be finders' fees of 7.5% in Units and 7.5% Finder Warrants issued to eligible finders. Each Finder Warrant will entitle the finder to purchase one share for $0.30 during a period of five years and will be subject to the same acceleration provisions as the unit warrants.

This private placement is subject to regulatory approval and all shares issued and any shares issued on exercise of the warrants are subject to restrictions on transfer for a period of four months from closing the private placement. The proceeds from the private placement will be used to further advance Cornerstone's exploration programs and continued working capital requirements.

About Cornerstone

Cornerstone Capital Resources Inc. is a mineral exploration company based in Mount Pearl, Newfoundland and Labrador, Canada, with a diversified portfolio of projects in Ecuador, Chile, and Atlantic Canada, and a strong technical team that has proven its ability to identify, acquire and advance properties of merit. The company's business model is based on generating exploration projects whose subsequent development is funded primarily through joint venture partnerships. The company is well funded and commitments from JV partners constitute significant validation of the strength of Cornerstone's projects. Further information is available on Cornerstone's website: www.cornerstoneresources.com.

Investors can access and join the following Cornerstone social media channels:

Facebook (http://www.facebook.com/cornerstoneresourcesinc)

Twitter (http://twitter.com/Cornerstone_cgp)

YouTube channel (http://www.youtube.com/user/CornerstoneResource)

Flickr (http://www.flickr.com/photos/cornerstoneresources)

The link to a recent Corporate presentation is: http://www.cornerstoneresources.com/i/pdf/Presentations_0711_CRICorporate.pdf

The link to a virtual tour of drilling at the Gama prospect, Shyri concession in Ecuador is: http://www.youtube.com/watch?v=Ne8XSfgLwIM

On Behalf of the Board,

Brooke Macdonald, President

Further information is available on the Cornerstone Web site at www.cornerstoneresources.com; via e-mail at communications@crigold.com; or toll free at 1-877-277-8377.

Cautionary Notices:

This news release may contain 'Forward-Looking Statements' that involve risks and uncertainties, such as statements of Cornerstone's plans, objectives, strategies, intentions and expectations. The words "potential," "anticipate," "forecast," "believe," "estimate," "expect," "may," "project," "plan," and similar expressions are intended to be among the statements that identify 'Forward-Looking Statements.' Although Cornerstone believes that its expectations reflected in these 'Forward-Looking Statements' are reasonable, such statements may involve unknown risks, uncertainties and other factors disclosed in our regulatory filings, viewed on the SEDAR website at www.sedar.com. For us, uncertainties arise from the behaviour of financial and metals markets, predicting natural geological phenomena and from numerous other matters of national, regional, and global scale, including those of an environmental, climatic, natural, political, economic, business, competitive, or regulatory nature. These uncertainties may cause our actual future results to be materially different than those expressed in our Forward-Looking Statements. Although Cornerstone believes the facts and information contained in this news release to be as correct and current as possible, Cornerstone does not warrant or make any representation as to the accuracy, validity or completeness of any facts or information contained herein and these statements should not be relied upon as representing its views subsequent to the date of this news release. While Cornerstone anticipates that subsequent events may cause its views to change, it expressly disclaims any obligation to update the Forward-Looking Statements contained herein except where outcomes have varied materially from the original statements.

This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States of America. The securities have not been and will not be registered under the United States Securities Act of 1933 (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to U.S. Persons (as defined in the U.S. Securities Act) unless registered under the U.S. Securities Act and applicable state securities laws, or an exemption from such registration is available.

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.

Contact Information

Cornerstone Capital Resources Inc.
Investor Relations
North America Toll-Free: 1 (877) 277-8377

Cornerstone Capital Resources Inc.
Martti Kangas
1 (647) 521-9261

Cornerstone Capital Resources Inc.
Paul Benwell / Pat Kairns
1 (514) 904-1333
communications@crigold.com

Read Full Article from Marketwire.com

- Posted: 2011-11-30 11:34:59


 More Stock Investor Place Financial News  
Metals price rout is ending, says Credit Suisse
The Gold Rally is Far From Over ... CNBC.com Editorial
Uragold Raw Quartz Assays As High As 4N Purity (99.99% SiO2) Prior To Commencement Of Testing
Interview with Mr. Tony Green, CEO of UMINING Resources Inc.(UMNG)
Northern Gold Intersects 5.47 g/t Au OVER 17.3 m at Jonpol Deposit

 Stock Investor Place Financial News Archive
April 2016
March 2016
December 2014
August 2013
April 2013
March 2013
February 2013
January 2013
December 2012
November 2012
October 2012
April 2012
March 2012
February 2012
January 2012
December 2011
November 2011
October 2011
September 2011
August 2011
July 2011
June 2011
May 2011
April 2011
March 2011
February 2011
January 2011
December 2010
November 2010
October 2010
September 2010
August 2010
July 2010
June 2010
May 2010
March 2010
February 2010
January 2010
December 2009
November 2009
October 2009
September 2009
August 2009
July 2009
May 2009
January 2009
December 2008
November 2008
October 2008
September 2008
August 2008
July 2008
June 2008
May 2008
April 2008
March 2008
February 2008
January 2008
December 2007
November 2007
October 2007
September 2007
August 2007
July 2007
June 2007
May 2007
April 2007
March 2007















Featured Companies | My Place | News | Markets | Big Board | Blogs | Products & Services

Copyright 2024 Stock Investor Place Inc. All Rights Reserved.
Disclaimer - Terms of Use - Privacy Policy - Advertise