Business
Cornerstone Metals Increases Non-brokered Private Placement to $3,000,000
Vancouver, British Columbia--(Newsfile Corp. - March 2, 2018) - Cornerstone Metals Inc. (TSXV...
About this update from Phenom Resources Corp
[{"type":"text","content":"Cornerstone Metals Increases Non-brokered Private Placement to $3,000,000Vancouver, British Columbia--(Newsfile Corp. - March 2, 2018) - Cornerstone Metals Inc. (TSXV: CCC) (\"Cornerstone\" or the \"Company\") is pleased to announce that it is over-subscribed for its non-brokered private placement, previously announced March 1, 2018. Accordingly, the Company will be increasing its private placement such that it now proposes to sell and issue up to 10,000,000 units at a price of $0.30/unit for gross proceeds of up to $3,000,000.Each unit will be comprised of one share and one half warrant. Each full warrant will be exercisable into one common share for a period of two years at an exercise price of $0.45 per share. The warrants are subject to an acceleration clause should the common shares trade at a price of $0.70 or greater for 10 consecutive trading days. The proceeds of the private placement will be used to carry out exploration programs, metallurgical test work, environmental and engineering studies on the Company's Carlin Vanadium Project and West Jerome property and for general working capital. The Company may pay a finder's fee of cash, to eligible persons, in compliance with applicable securities laws and exchange policies. There is no material fact or material change about Cornerstone that has not been generally disclosed. This financing is subject to TSXV approval. This news release does not constitute an offer to sell or a solicitation of an offer to buy nor shall there be any sale of any of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful, including any of the securities in the United States of America. The securities have not been and will not be registered under the United States Securities Act of 1933 as amended (1933 Act), or any state securities laws, and may not be offered or sold within the United States or to, or for account or benefit of, U.S. persons (as defined in Regulation S under the 1933 Act) unless registered under the 1933 Act and applicable state securities laws, or an exemption from such registration requirements is available.About Cornerstone Metals Inc.Cornerstone's objective is to advance exploration/development stage copper, precious and strategic minerals properties to production in the Americas. The Company's Management and Board Core Competence is...