Vancouver, British Columbia--(Newsfile Corp. - February 23, 2015) - Cornerstone Metals Inc. (TSXV: CCC) ("Cornerstone" or the "Company") announces a non-brokered private placement pursuant to which it will issue up to 5,000,000 units at a price of $0.02 per unit for gross proceeds of up to $100,000. 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.
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
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Source: Phenom Resources Corp.