Cornerstone Capital Resources Inc.

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Cornerstone has a diversified portfolio of gold, silver and copper projects in Ecuador and Chile, including a 15% interest in the exciting Cascabel copper-gold discovery in Ecuador financed through to a bankable feasibility study.

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Cornerstone Capital Resources Inc.

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Cornerstone has a diversified portfolio of gold, silver and copper projects in Ecuador and Chile, including a 15% int......

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UPDATE - Cornerstone Board Rejects Hostile Bid Proposal by SolGold


UPDATE - Cornerstone Board Rejects Hostile Bid Proposal by SolGold

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OTTAWA, March 08, 2019 (GLOBE NEWSWIRE) -- Cornerstone Capital Resources Inc. (“Cornerstone” or “the Company”) (TSXV:CGP) (Frankfurt:GWN) (Berlin:GWN) (OTC:CTNXF) today announced that its Board of Directors, upon the unanimous recommendation of an independent committee of the Board and following a detailed review conducted in consultation with its financial and legal advisors, has unanimously determined to reject SolGold plc’s (“SolGold”) unsolicited proposal to acquire Cornerstone (the “Hostile Bid”) on the basis that it is not in the best interests of Cornerstone’s shareholders.


The Board has rejected the proposed Hostile Bid without having received the formal bid given SolGold’s consistent track record of delays:



  • late to publish drill results and updates to the market on Cascabel with the last press released update on exploration in November 2018;

  • late on releasing the Cascabel maiden resource statement;

  • late on releasing the preliminary economic assessment for Cascabel which was originally expected in January 2019, then Q1 2019 and now the most recent SolGold presentation is suggesting Q2 2019; and

  • now nearly 40 days since announcing its intention to make a takeover bid for Cornerstone.


Read more here: https://quotemedia.com/portal/quote?qm_symbol=CGP%3ACA&qmodStoryID=5657625515517455 

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OTTAWA, March 08, 2019 (GLOBE NEWSWIRE) -- Cornerstone Capital Resources Inc. (“Cornerstone” or “the Company”) (TSXV:CGP) (Frankfurt:GWN) (Berlin:GWN) (OTC:CTNXF) today announced that its Board of Directors, upon the unanimous recommendation of an independent committee of the Board and following a detailed review conducted in consultation with its financial and legal advisors, has unanimously determined to reject SolGold plc’s (“SolGold”) unsolicited proposal to acquire Cornerstone (the “Hostile Bid”) on the basis that it is not in the best interests of Cornerstone’s shareholders.

The Board has rejected the proposed Hostile Bid without having received the formal bid given SolGold’s consistent track record of delays:

  • late to publish drill results and updates to the market on Cascabel with the last press released update on exploration in November 2018;
  • late on releasing the Cascabel maiden resource statement;
  • late on releasing the preliminary economic assessment for Cascabel which was originally expected in January 2019, then Q1 2019 and now the most recent SolGold presentation is suggesting Q2 2019; and
  • now nearly 40 days since announcing its intention to make a takeover bid for Cornerstone.

Read more here: https://quotemedia.com/portal/quote?qm_symbol=CGP%3ACA&qmodStoryID=5657625515517455 


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