Ottawa -
The Offering consisted of the issuance of 1,540,000 common shares at an issue price of
The Offering includes participation by insiders of Cornerstone totalling 380,000 common shares, which constitutes a 'related party transaction' as defined in Multilateral Instrument 61-101 - Protection of Minority Security Holders in Special Transactions ('MI 61-101'). In aggregate, directors and officers of Cornerstone have subscribed for 125,000 common shares, which represents less than 1% of Cornerstone's market capitalization as determined in accordance with MI 61-101. The Offering was unanimously approved by the directors of Cornerstone, with each director refraining from voting in respect of his or her participation in the Offering. None of Cornerstone's directors has expressed any contrary views or disagreements with respect to the Offering. Subscriptions to the Offering were made pursuant to a subscription agreement, which contains customary terms and conditions. For additional related party disclosure relating to the Offering, please refer to the material change report of the Company dated
The Company has engaged
The shares issued pursuant to the Offering and to
This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in
About Cornerstone
Contact:
Tel: (514) 904-1333
Email: Mario@mi3.ca
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Cautionary Notice
This news release may contain 'Forward-Looking Statements' that involve risks and uncertainties, such as statements regarding the private placement, including the completion thereof and the timing of any completion thereof, and statements regarding 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 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.
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