H. Brooke Macdonald appointed President
Mount Pearl, NL, Canada: Cornerstone Capital Resources Inc.
(TSXV-CGP) (F-GWN) (B-GWN) (OTC-CTNXF) today announced the following
appointments effective immediately:
.. H. Brooke Macdonald has been appointed President, replacing Glen H.
McKay in that role.
.. Glen H. McKay will continue as Executive Vice Chairman and CEO.
Welcoming the appointments, outgoing President Glen H. McKay commented:
"Having Brooke, a respected and seasoned industry professional, as
President is an important step for the company for the next stage of
its development. He brings the experience, knowledge and skills
necessary to ensure that we realize the potential of our current broad
portfolio of projects and take full advantage of new opportunities. As
we enlarge our portfolio of projects in Ecuador and expand into other
jurisdictions in Latin America, Brooke's intimate knowledge of the
region and his fluency in Spanish are critically needed assets at this
time. I am very pleased that Brooke is joining our senior management
team at this very important time."
H. Brooke Macdonald is an executive specializing in contract
negotiations, direct foreign investment and joint ventures in Latin
America, and has been a Cornerstone Director since 2009. He graduated
from Queen's University, Kingston, Ontario, in 1982 with an L.L.B., was
admitted to the British Columbia Bar in 1984 and to the New York Bar in
2002. His experience includes time as an associate at the Caracas
office of international law firm Baker & McKenzie, and almost nine
years as an executive with global mining company Placer Dome Inc.
(later acquired by Barrick Gold Corp.), first as
their legal counsel
for exploration in Latin America and later as President of Placer Dome
de Venezuela C.A. More recently, he was Vice President Legal Affairs of
Skye Resources Inc., a Vancouver based TSX listed company developing
the Fenix nickel laterite
project in Guatemala, until its takeover by
HudBay Minerals in August 2008.
John Fleming, Board Chair said: "I am very pleased that Glen McKay is
staying on as CEO which will ensure that Cornerstone continues to
benefit from the leadership and business acumen of the person who has
led the company's development since its beginning in 1997. Mr. McKay
has served the company in several capacities and has been an invaluable
resource as we developed Cornerstone from a fledgling exploration
company operating entirely in Newfoundland to an international entity
recognized for the high caliber of its work. The team of McKay and
Macdonald brings strength to Cornerstone that is essential for the
future growth of our company."
The Company today issued 1,250,000 stock options to purchase shares in
Cornerstone to an Insider. The pricing and expiry of the options are as
per company policy and as permitted by the TSX Venture Exchange. The
options are priced at yesterday's closing price of the company's shares
trading on the TSXV.
To listen to an interview with CEO Glen H. McKay about today's news and
an update on Gama click on this link;
The Board of Directors of the Company has re-approved the Shareholder
Rights Plan for another two year period ending December 20, 2012.
Cornerstone Capital Resources Inc. is a mineral exploration company
based in Mount Pearl, Newfoundland and Labrador, Canada, with a
diversified portfolio of projects in Canada, Ecuador and Chile, and a
strong technical team that has proven its ability to identify, acquire
and advance properties of merit. The company's business model is based
on generating exploration projects whose subsequent development is
funded primarily through joint venture partnerships. The company is
well funded and commitments from JV partners constitute significant
validation of the strength of Cornerstone's projects.
Certain statements contained in this press release may be considered as
forward-looking. Such forward-looking statements are subject to risks
and uncertainties that could cause actual results to differ materially
from estimated or implied results. While Cornerstone anticipates that
subsequent events may cause its views to change, it expressly disclaims
any obligation to update the Forward-Looking Statements contained
Further information is available on Cornerstone's website:
www.cornerstoneresources.com or for investor, corporate or media
inquiries, please contact:
On Behalf of the Board,
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.