Cornerstone Metals Inc. Closes Non-Brokered Private Placement
Vancouver, British Columbia--(Newsfile Corp. - April 6, 2015) - Cornerstone Metals Inc. (TSXV: 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.
"Paul Cowley"
President and CEO
For further information, please contact:
Paul Cowley
Tel: 604-340-7711
Email: pcowley@cornerstonemetals.ca
Website: www.cornerstonemetals.ca