PowerStone Metals Corp. to Commence Trading on the Canadian Securities Exchange
Vancouver, March 21, 2023 - PowerStone Metals Corp. (CSE: PS) ("PowerStone" or the "Company") is pleased to announce that the Company's common shares (the "Shares") have been approved for listing on the Canadian Securities Exchange (the "CSE") and that trading of the Shares is expected to commence at market open on March 22, 2023. PowerStone has raised a total of $1,470,667 since inception from the issuance of Shares and special warrants, which were converted into Shares upon issuance by the British Columbia Securities Commission of the receipt of the Company's final long form prospectus dated March 2, 2023. PowerStone features an attractive share structure with 28,250,833 Shares currently issued and outstanding, of which 7,950,000 Shares (approximately 28%) are subject to 36-month time release escrow provisions and an additional 11,588,333 Shares (approximately 41%) are subject to 12-month time release escrow provisions. PowerStone intends to use its cash resources to fund exploration on the Company's Chilton Cobalt property located in the Grenville Province in Quebec (the "Chilton Cobalt Property") and evaluate the acquisition of other critical metals mineral exploration assets.
The directors and officers of PowerStone are Raymond Harari, Chief Executive Officer and Director; Carlo Rigillo, Chief Financial Officer and Director; Fraser Hartley, Corporate Secretary and Director; and Zachary Goldenberg, Director.
About PowerStone Metals Corp.
PowerStone is a mineral exploration company focused on the identification and exploration of high-quality critical metals assets, in favorable mining jurisdictions, to help meet the increasing demand of metals required for the transition to a green economy. PowerStone is currently exploring the Chilton Cobalt Property, a prospective cobalt asset located in Quebec, Canada. The Company may also evaluate the acquisition of other mineral exploration assets and opportunities. For more information, please visit www.powerstonemetals.com.
Contact Information
Raymond Harari
Chief Executive Officer, PowerStone Metals Corp.
e: rdh@canaliscapital.com
t: 507-6675-2221
Cautionary Note Regarding Forward-Looking Statements
Certain statements contained in this press release constitute "forward-looking information" as that term is defined in applicable Canadian securities legislation. Forward-looking information by its nature is based on assumptions and involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements or information. We have made certain assumptions about the forward-looking statements and information, including the mineralization prospects and future results of the Company's Chilton Cobalt Property. Although PowerStone's management believes that the assumptions made and the expectations represented by such information are reasonable, there can be no assurance that the forward-looking information will prove to be accurate. Furthermore, should one or more of the risks, uncertainties or other factors materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described in forward-looking statements or information. These risks, uncertainties and other factors include, the possibility that a liquid market for PowerStone's shares will not develop and that it will be unsuccessful in attracting new investors to support the development of its business and those factors discussed in the section entitled "Risk Factors" in PowerStone's final prospectus filed on SEDAR. There can be no assurance that forward-looking statements or information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on the forward-looking statements or information contained herein. The Company does not undertake to update forward‐looking statements or forward‐looking information, except as required by law.
The CSE has in no way passed upon the merits of the business of the Company and has neither approved nor disapproved the contents of this news release and accepts no responsibility for the adequacy or accuracy hereof.
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