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Cornerstone Capital upsizes private placement to C$8.2M

Cornerstone Capital Resources Inc. said Jan. 29 that it now plans to raise C$8.2 million under a previously announced nonbrokered private placement.

The offering will comprise 41.0 million shares priced at 20 Canadian cents apiece, compared with 23.5 million shares at 22 Canadian cents each earlier.

About C$5.8 million in proceeds will be used to fund Cornerstone Exploration Inc., while the rest will go toward Cascabel Gold & Copper Inc.

The placement remains subject to all the necessary regulatory approvals and is still expected to close in February.