April 6, 2015 – Vancouver, British Columbia – Cornerstone Metals Inc. (TSX-V: CCC) (“Cornerstone” or the “Company”) announces that it has closed a non-brokered private placement of 6,250,000 units, at a price of $0.02 per unit, for gross proceeds of $125,000. Each unit consists 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, until April 6, 2017. Securities issued pursuant to the private placement will be subject to a four month hold to August 7, 2015.
The Company has paid a finder’s fee to Haywood Securities Inc. of 225,000 units for certain found subscriptions, subject to the same terms and conditions of the private placement units.
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).
On Behalf of Cornerstone Metals Inc.
President and CEO
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This website includes certain "forward-looking statements" such as estimates and statements that describe Cornerstone Metal Inc.’s property, future plans, objectives or goals. All statements in this website, other than statements of historical facts, that address future production, resource potential, exploration and development activities and events or developments that the Company expects, are forward-looking statements. Although management believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such forward-looking statements involve known and unknown risks, uncertainties, and other factors that may cause actual results, performance or developments to differ materially from those in the forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include, but are not limited to, market prices, environmental conditions, judicial, regulatory and political developments, exploration and development successes, continued availability of capital and financing, and general economic, market or business conditions.