Thursday, January 31, 2019

Cornerstone Capital Resources Inc. - CGP.v

Cornerstone Capital Resources Inc. - CGP.v is focused on advancing exploration on a diversified portfolio of gold, silver and copper projects in Ecuador and Chile. The company owns an interest in the Cascabel gold-enriched copper porphyry joint venture in north west Ecuador.
On January 31, 2019 the company released NEWS

Cornerstone Capital Resources Inc. notes the press release of SolGold plc issued on January 31, 2019 that announces their intention to commence an offer to acquire all of the issued and outstanding common shares of Cornerstone. Despite SolGold not intending to make a formal offer before the end of February, Cornerstone has been advised by shareholders that collectively own over 50% of the outstanding shares of the Company that they will not support the terms of the proposed offer announced by SolGold. Given that the Canadian takeover rules require the majority of the outstanding shares (excluding shares held by SolGold) be tendered to a formal offer before any shares can be taken up, SolGold's proposed offer, if formalized, is incapable of being completed.