Phenom Resources Corp. press release
Cornerstone Metals Inc. Increases Non-Brokered Private Placement
TSXV - TSX Venture Exchange · Vanadium · Gold · Antimony · Silver · Copper · Iron · Rare Earth Elements · Nickel · Canada
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Vancouver, British Columbia--(Newsfile Corp. - March 30, 2015) - Cornerstone Metals Inc. (TSXV: CCC)("Cornerstone" or the "Company") announces that it has increased a non-brokered private placement, previously announced on February 23, 2015, from up to 5,000,000 units to up to 6,250,000 units, at a price of $0.02 per unit, for gross proceeds of up to $125,000. 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 per share, for a period of two years from issuance of the warrants. Securities issued pursuant to the private placement will be subject to a four month hold.
Proceeds from the private placement will be used for general working capital including: mineral leases ($25,000); accounting and audit ($45,000); general office expenses ($2,500); legal ($7,500); listing and filing fees ($11,000); management fees ($25,000); and transfer agent ($7,500).
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.
On Behalf of Cornerstone Metals Inc. _"Paul Cowley" _President and CEO
For further information, please contact: Paul Cowley Tel: 604-340-7711 Email: pcowley@cornerstonemetals.ca Website: www.cornerstonemetals.ca
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