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MarketScreener Homepage  >  Equities  >  TSX VENTURE EXCHANGE  >  Cornerstone Capital Resources Inc.    CGP   CA21922J6043


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Cornerstone Capital Resources : 20-34 - Cornerstone obtains reporting issuer status in Ontario

12/02/2020 | 05:53pm EST

Ottawa, ON, Canada: Cornerstone Capital Resources Inc. ('Cornerstone' or 'the Company') (TSXV:CGP) (Frankfurt:GWN) (Berlin:GWN) (OTC:CTNXF) today announces that the Ontario Securities Commission (the 'OSC') has issued an order (the 'Order') accepting the Company as a reporting issuer for the purposes of Ontario securities law. As a result of the Order, the OSC will be the principal regulator of the Company.

About Cornerstone
Cornerstone Capital Resources Inc. is a mineral exploration company with a diversified portfolio of projects in Ecuador and Chile, including the Cascabel gold-enriched copper porphyry joint venture in northwest Ecuador. Cornerstone has a 21.4% direct and indirect interest in Cascabel comprised of (i) a direct 15% interest in the project financed through to completion of a feasibility study and repayable at Libor plus 2% out of 90% of its share of the earnings or dividends from an operation at Cascabel, plus (ii) an indirect interest comprised of 7.5% of the shares of joint venture partner and project operator SolGold Plc. Exploraciones Novomining S.A. ('ENSA'), an Ecuadoran company owned by SolGold and Cornerstone, holds 100% of the Cascabel concession. Subject to the satisfaction of certain conditions, including SolGold's fully funding the project through to feasibility, SolGold Plc will own 85% of the equity of ENSA and Cornerstone will own the remaining 15% of ENSA.

Further information is available on Cornerstone's website: www.cornerstoneresources.com and on Twitter. For investor, corporate or media inquiries, please contact ir@cornerstoneresources.ca, or:

Investor Relations:
Mario Drolet; Email: Mario@mi3.ca; Tel. (514) 904-1333

Due to anti-spam laws, many shareholders and others who were previously signed up to receive email updates and who are no longer receiving them may need to re-subscribe at http://www.cornerstoneresources.com.

Cautionary Notice:
This news release may contain 'Forward-Looking Statements' that involve risks and uncertainties, such as statements of Cornerstone's beliefs, plans, objectives, strategies, intentions and expectations. The words 'potential,' 'anticipate,' 'forecast,' 'believe,' 'estimate,' 'intend', 'trends', 'indicate', 'expect,' 'may,' 'should,' 'could', 'project,' 'plan,' or the negative or other variations of these words 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 after 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.

On Behalf of the Board,
Brooke Macdonald
President and CEO

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.


Cornerstone Capital Resources Inc. published this content on 02 December 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 02 December 2020 22:52:01 UTC

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Sales 2019 0,30 M 0,24 M 0,24 M
Net income 2019 -7,28 M -5,72 M -5,72 M
Net cash 2019 61,0 M 47,9 M 47,9 M
P/E ratio 2019 -12,4x
Yield 2019 -
Capitalization 171 M 134 M 134 M
EV / Sales 2018 577x
EV / Sales 2019 104x
Nbr of Employees -
Free-Float 67,4%
Duration : Period :
Cornerstone Capital Resources Inc. Technical Analysis Chart | MarketScreener
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Income Statement Evolution
Mean consensus -
Number of Analysts 1
Average target price 7,44 CAD
Last Close Price 5,25 CAD
Spread / Highest target 41,7%
Spread / Average Target 41,7%
Spread / Lowest Target 41,7%
Managers and Directors
Hugh Brooke MacDonald President, Chief Executive Officer & Director
H. Gregory Chamandy Chairman
David R. Loveys Chief Financial Officer, Secretary & Director
W. John Clarke Independent Director
Colin B. McKenzie Independent Director
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