Cornerstone Receives Final Court Order Approving Arrangement
11 January 2023 - 5:43AM
Cornerstone Capital Resources Inc. (“Cornerstone”)
(TSXV:CGP; OTC:CTNXF; FWB:GWN1) is pleased to
announce that it has obtained a final order from the Court of
King’s Bench of Alberta approving the previously-announced plan of
arrangement (the “
Arrangement”) pursuant to
which SolGold plc (LSE:SOLG; TSX:SOLG) (“
SolGold”)
will acquire all of the issued and outstanding common shares of
Cornerstone (the “
Cornerstone
Shares”), other than the Cornerstone Shares
already held, directly or indirectly, by SolGold.
Subject to obtaining all required approvals and
the satisfaction or waiver of all required conditions to closing,
the Arrangement is expected to close in late January 2023.
About Cornerstone
Cornerstone Capital Resources Inc. is a mineral
exploration company with a diversified portfolio of projects in
Ecuador and Chile, including a direct & indirect interest in
the Cascabel gold-enriched copper porphyry in northwest
Ecuador.
For further information, please
contact:CornerstoneBrooke Macdonald
(CEO)ir@cornerstoneresources.ca
Cautionary Notice:
This news release contains forward-looking
statements which constitute “forward‑looking information” within
the meaning of applicable Canadian securities legislation. This
forward-looking information includes or relates to, among other
things, the anticipated timing of closing of the Arrangement.
Generally, forward‑looking information can be identified by the use
of forward-looking terminology such as "plans", "expects" or "does
not expect", "is expected", "budget", "scheduled", "estimates",
"forecasts", "intends", "anticipates" or "does not anticipate", or
"believes", or variations of such words and phrases or state that
certain actions, events or results "may", "could", "would", "might"
or "will be taken", "occur" or "be achieved".
Forward‑looking information involves and is
subject to known and unknown risks, uncertainties and other factors
beyond Cornerstone’s control that may cause the actual results to
be materially different from those expressed or implied by such
forward‑looking information, including but not limited to:
transaction risks; general business, economic, competitive,
political and social uncertainties; future mineral prices;
accidents, labour disputes and shortages and other risks of the
mining industry; the possibility that the Arrangement will not be
completed on the terms and conditions, or on the timing, currently
contemplated, and that it may not be completed at all, due to a
failure to obtain or satisfy, in a timely manner or otherwise, the
conditions of closing necessary to complete the Arrangement or for
other reasons; the failure to realize the expected benefits of the
Arrangement; and other risks inherent to the business carried out
by Cornerstone and/or factors beyond its control which could have a
material adverse effect on Cornerstone or its ability to complete
the Arrangement. Although Cornerstone has attempted to identify
important factors that could cause actual results to differ
materially from those contained in forward-looking information,
there may be other factors that cause results not to be as
anticipated, estimated or intended. There can be no assurance that
such 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 any forward-looking information. Cornerstone does not
undertake any obligation to disseminate any updates or revisions to
such forward-looking information, except as required by the
policies of the TSX Venture Exchange or in accordance with
applicable Canadian securities laws.
Neither 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.
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