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Cornerstone Metals Inc Completes Acquisition of Copper One Inc's Copper One USA Inc
Cornerstone Metals Inc announced that it has now completed the acquisition of all of the issued and outstanding shares of Copper One USA Inc. (CO USA) from Copper One Inc. (the Vendor), as described in previous news releases. Through its acquisition of CO USA, the Company has acquired the Lone Mountain property, New Mexico, together with five other properties: West Jerome; Twin Peaks, West Safford and Teague Springs in Arizona and Mimbres in New Mexico. On closing, the Company issued 2,250,000 shares to the Vendor. All shares are subject to a 4 month hold period as required under securities laws, expiring December 23, 2013. In addition, the Vendor agreed to a voluntary hold period on 750,000 shares, which hold period will expire on August 22, 2014.
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