Cornerstone Metals Announces Listing on U.S. OTCQB® Venture Securities Market
January 22, 2018 - Vancouver, British Columbia – Cornerstone Metals Inc. (“Cornerstone” or the “Company”) announces that its common stock has commenced trading in the United States on the OTCQB® Venture Market, under the trading symbol APPPF.
OTC Markets Group Inc. operates the OTCQB® Venture Market, the OTCQX® Best Market and the Pink® Open Market for 10,000 U.S. and global securities. Through OTC Link® ATS, OTC Markets Group connects a diverse network of broker-dealers that provide liquidity and execution services. OTC Markets Group enables investors to easily trade through the broker of their choice and empower companies to improve the quality of information available for investors.
“Cornerstone’s expansion into the U.S. securities markets is a milestone that brings our Company substantially added access to institutional and individual investors,” said Cornerstone President and Chief Executive Officer Paul Cowley. “We are confident that our listing on this active marketplace can significantly enhance liquidity for our shareholders and extend investor awareness of our Company throughout the U.S. and beyond.”
Cornerstone Metals is an emerging exploration company whose most recently added initiative is the Carlin Vanadium Project, which contains one of North America’s largest, richest known primary deposits of vanadium, an industrial mineral critical to industries ranging from steel to utility scale battery storage technology. The Company’s analysis illustrates that the Nevada site’s vanadium deposit features a combination of high grade and unsurpassed accessibility.
In additional news, the Company announces the appointment of Barry Girling to its advisory board. Mr. Girling is an independent business consultant active in resource companies for over 35 years, including serving as a director of Silver One Resources, Zinc One Resources and iMinerals Inc. and was a founder and former director of Roxgold Inc. Having been involved in all facets of project development from grass roots exploration through feasibility study, he has experience in project finance and development and corporate/shareholder communications.
The Company also announces the grant of 35,000 stock options to a consultant of the Company, at an exercise price of $0.30 per share, for a five year term, subject to the terms and conditions of the Company’s stock option plan. Following this grant of stock options, the Company has a total of 1,840,000 stock options outstanding representing approximately 9.0% of the outstanding common shares of the Company.
The Company has an option to earn a 100% interest in the Carlin Vanadium Project, which has one of the largest, richest known primary vanadium deposits in North America. The Carlin Vanadium Project is located in Elko County 22km by road (14 miles) from the town of Carlin, Nevada, and is comprised of 72 contiguous unpatented mineral claims totaling 461 hectares (1,140 acres). The Carlin Vanadium deposit was discovered by Union Carbide Corp. (UCC) in the 1960’s, which completed surface mapping, trenching and 152 rotary drill holes in 11,133m (36,525 feet) of drilling. The average drill hole spacing was 60m (200ft) apart within the more densely drilled areas. Drilling indicates a zone of mineralization approximately 55m (180 feet) thick striking north-south over 1,860m (6,100ft) in length and dipping 5°-30° east and west averaging 760m (2,500ft) of down dip extent from surface. The mineralized unit is locally exposed on surface, where it cuts topography, but mostly is found at shallow depths, commonly between 15-60m (50-200 ft) below surface.
Technical disclosure in this news release has been reviewed and approved by Paul Cowley, P.Geo., a Qualified Person as defined by National Instrument 43-101, and President and CEO of the Company.
Certain statements in this news release constitute "forward-looking" statements. These statements relate to future events or the Company's future performance and include the Company’s ability to meet the conditions required to exercise in full its option to acquire the Carlin Vanadium project. All such statements involve substantial known and unknown risks, uncertainties and other factors which may cause the actual results to vary from those expressed or implied by such forward-looking statements. Forward-looking statements involve significant risks and uncertainties, they should not be read as guarantees of future performance or results, and they will not necessarily be accurate indications of whether or not such results will be achieved. Actual results could differ materially from those anticipated due to a number of factors and risks. Although the forward-looking statements contained in this news release are based upon what management of the Company believes are reasonable assumptions on the date of this news release, the Company cannot assure investors that actual results will be consistent with these forward-looking statements. The forward-looking statements contained in this press release are made as of the date hereof and the Company disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as required under applicable securities regulations.