By Devika Patel
Knoxville, Tenn., June 15 - Cornerstone Capital Resources Inc. said it plans a C$1.2 million non-brokered private placement of units.
The company will sell 10 million units of one common share and a warrant at C$0.12 per unit. Each warrant is exercisable at C$0.16 for two years.
Proceeds will be used for exploration and working capital.
Based in Mount Pearl, Newfoundland and Labrador, Cornerstone is a mineral exploration company.
| Issuer: | Cornerstone Capital Resources Inc.
|
| Issue: | Units of one flow-through common share and a warrant
|
| Amount: | C$1.2 million
|
| Units: | 10 million
|
| Price: | C$0.12
|
| Warrants: | One warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.16
|
| Agent: | Non-brokered
|
| Pricing date: | June 15
|
| Stock symbol: | TSX Venture: CGP
|
| Stock price: | C$0.13 at close June 14
|
| Market capitalization: | C$10.9 million
|
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