Cornerstone Announces Adoption of Advance Notice By-Law
April 29 2021 - 4:34PM
Cornerstone Capital Resources Inc. (“Cornerstone” or “the
Company”) (TSXV:CGP) (Frankfurt:GWN) (Berlin:GWN)
(OTC:CTNXF) announces that the Company’s board of
directors (the “Board”) has approved a by-law that sets out advance
notice requirements for director nominations (the “Advance Notice
By-Law”). The Advance Notice By-Law is intended to provide the
Company’s shareholders, directors and management with a
transparent, fair and structured framework under which the
Company’s shareholders may submit director nominations. The Advance
Notice By-Law fixes a deadline by which the Company’s shareholders
must submit director nominations to the Company prior to any annual
or special meeting of shareholders and sets out the information
that a shareholder must include in a notice to the Company. Under
the Advance Notice By-Law, shareholders seeking to nominate a
candidate for a Board seat will generally be required to provide
notice at least 30 days prior to the date of an annual general
meeting or within 15 days following the announcement of any special
meeting called for the purpose of electing directors.
The Advance Notice By-Law became effective upon
its adoption by the Board on April 29, 2021. Pursuant to the
provisions of the Business Corporations Act (Alberta), the Company
will seek shareholder approval for the Advance Notice By-Law at the
Company’s next annual general and special meeting of shareholders,
which is currently expected to be held in late June, 2021 (the
“Meeting”). If the Company’s shareholders do not approve the
Advance Notice By-Law at the Meeting, the Advance Notice By-Law
will cease to be effective.
The foregoing summary of the Advance Notice
By-Law is qualified in its entirety by reference to the complete
text of the Advance Notice By-Law, which is available under the
Company’s profile on SEDAR at www.sedar.com, and which will be
described in the Company’s management information circular for the
Meeting.
About Cornerstone
Cornerstone Capital Resources Inc. is a mineral
exploration company with a diversified portfolio of projects in
Ecuador and Chile, including the Cascabel gold-enriched copper
porphyry joint venture in northwest Ecuador. Cornerstone has a
20.8% direct and indirect interest in Cascabel comprised of (i) a
direct 15% interest in the project financed through to completion
of a feasibility study and repayable at Libor plus 2% out of 90% of
its share of the earnings or dividends from an operation at
Cascabel, plus (ii) an indirect interest comprised of 6.86% of the
shares of joint venture partner and project operator SolGold Plc.
Exploraciones Novomining S.A. (“ENSA”), an Ecuadoran company owned
by SolGold and Cornerstone, holds 100% of the Cascabel concession.
Subject to the satisfaction of certain conditions, including
SolGold’s fully funding the project through to feasibility, SolGold
Plc will own 85% of the equity of ENSA and Cornerstone will own the
remaining 15% of ENSA.
Investor Inquiries
Further information is available on
Cornerstone’s website: www.cornerstoneresources.com and on
Twitter. For investor, corporate or media inquiries, please contact
ir@cornerstoneresources.ca, or:
Investor Relations: Mario Drolet; Email: Mario@mi3.ca; Tel.
(514) 904-1333
Due to anti-spam laws, many shareholders and
others who were previously signed up to receive email updates and
who are no longer receiving them may need to re-subscribe
at http://www.cornerstoneresources.com/s/InformationRequest.asp
Cautionary Notice:This news
release may contain ‘Forward-Looking Statements’ that involve risks
and uncertainties, such as statements of Cornerstone’s beliefs,
plans, objectives, strategies, intentions and expectations. The
words “potential”, “anticipate”, “forecast”, “believe”, “estimate”,
“intend”, “trends”, “indicate”, “expect”, “may”, “should”, “could”,
“will”, “project”, “plan”, or the negative or other variations of
these words and similar expressions are intended to be among the
statements that identify ‘Forward-Looking Statements’, although not
all forward-looking statements contain these words. Examples of
forward-looking statements in this news release include, but are
not limited to, the Company’s expectation that the Advance Notice
By-Law will provide the Company’s shareholders, directors and
management with a transparent, fair and structured framework under
which the Company’s shareholders may submit director nominations,
the Company’s expectation that it will seek shareholder approval
for the Advance Notice By-Law at the Meeting and the expected
timing of the Meeting. Although Cornerstone believes
that its expectations reflected in these ‘Forward-Looking
Statements’ are reasonable, such statements may involve unknown
risks, uncertainties and other factors disclosed in our regulatory
filings, viewed on the SEDAR website at www.sedar.com. For us,
uncertainties arise from the behaviour of financial and metals
markets, predicting natural geological phenomena and from numerous
other matters of national, regional, and global scale, including
those of an environmental, climatic, natural, political, economic,
business, competitive, or regulatory nature. These uncertainties
may cause our actual future results to be materially different than
those expressed in our Forward-Looking Statements. Although
Cornerstone believes the facts and information contained in this
news release to be as correct and current as possible, Cornerstone
does not warrant or make any representation as to the accuracy,
validity or completeness of any facts or information contained
herein and these statements should not be relied upon as
representing its views after the date of this news release. While
Cornerstone anticipates that subsequent events may cause its views
to change, it expressly disclaims any obligation to update the
Forward-Looking Statements contained herein except where outcomes
have varied materially from the original statements.
On Behalf of the Board, Brooke MacdonaldPresident and CEO
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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