Cornerstone investor Rule acquires more shares2010-06-30 13:53 ET - News Release
Ms. Gretchen Carter of the Rule Family Trust reports
THE RULE FAMILY TRUST ACQUIRES SHARES AND WARRANTS OF CORNERSTONE CAPITAL RESOURCES INC.
The Rule Family Trust has acquired control and direction over 5,521,263 common shares (representing 5.85 per cent of the outstanding shares) and warrants to purchase a further 6,202,526 common shares of Cornerstone Capital Resources Inc. of Mount Pearl, Nfld., pursuant to a private placement of units at a price of 12 cents per unit (each unit consisting of one common share and one warrant to purchase a further common share). If all of the warrants are exercised, the Rule Family Trust will have control and direction over 11,723,789 common shares of Cornerstone (representing 11.66 per cent of its then outstanding common shares). The Rule Family Trust does not own or have control or direction over any other securities of Cornerstone.
The shares and warrants were acquired for investment purposes and as a finder's fee under the exemption set out in Section 2.3 of National Instrument 45106 for accredited investors. Presently, the Rule Family Trust and its joint actors do not have any intention of acquiring any further securities of Cornerstone but may acquire ownership of or control over further securities in the future depending upon market circumstances.
The Rule Family Trust has filed an early warning report with the British Columbia, Alberta, Nova Scotia and Newfoundland securities commissions in respect of the disposition. Copies of the report may be obtained from SEDAR or without charge from the Rule Family Trust.