Cornerstone tells SolGold that its proposed offer will not succeed

TSX-V-listed Cornerstone has told its potential suitor that it will not be successful in a takeover of the company, after LSE- and TSX-listed explorer SolGold on Friday announced for the second time its intention to make an offer for Cornerstone.

SolGold said on Friday that it believed all Cornerstone’s shareholders should be given the opportunity to make an informed decision, and that an independent review should be conducted by the company’s board.