March 25, 2014 16:05 ET
VANCOUVER, BRITISH COLUMBIA--(Marketwired - March 25, 2014) - Cornerstone Metals Inc. (TSX VENTURE:CCC) ("Cornerstone" or the "Company") wishes to announce a non-brokered private placement pursuant to which it will issue up to 3,000,000 units at a price of $0.05 per unit for gross proceeds of up to $150,000. Each unit will consist of one common share and one transferable share purchase warrant. Each warrant will be exercisable to purchase one additional common share at an exercise price of: $0.05 in the first six (6) months after issuance of the warrants, $0.075 in the period from six (6) months to twelve (12) months after issuance of the warrants, and $0.10 in the period from twelve (12) months to twenty four (24) months after issuance of the warrants. If during the exercise period of the warrants, subsequent to the expiry of the regulatory 4 month hold period, the closing price of the Company's common shares is at least $0.15 per share for 20 consecutive trading days, the Company may accelerate the expiry time of the warrants to 20 calendar days from the date written notice is provided to the warrant holders.
Proceeds from the private placement will be used for general working capital.
The Company may pay a finder's fee to eligible finders in accordance with regulatory policies.
The private placement is subject to TSX Venture Exchange approval.
In addition, the Company is looking for partners on its properties.
On Behalf of Cornerstone Metals Inc.
Paul Cowley, President and CEO
Neither the 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.
Cornerstone Metals Inc.Paul Cowley604email@example.com
See all RSS Newsfeeds