 NEW YORK, April 06, 2021 GLOBE NEWSWIRE -- Cornerstone Strategic Value Fund, Inc. NYSE American: CLM the Fund announced today, contingent upon final approval from the U.S. Securities and Exchange Commission, that it has fixed the close of business on April 16, 2021 as the record date the Record Date for determination of stockholders entitled to participate in the Funds 1-for-3 rights offering. The Fund is issuing to its stockholders non-transferable rights entitling the holders to subscribe for an aggregate of 26,029,753 shares of common stock. Each stockholder will receive one non-transferable right for each share of the Fund held as of the Record Date. Fractional Shares will not be issued upon the exercise of the Rights. Accordingly, the number of Rights to be issued to a Stockholder on the Record Date will be rounded up to the nearest whole number of Rights evenly divisible by three. For every three rights a stockholder receives, he or she will be entitled but not required to purchase one new share of the Fund at a subscription price equal to the greater of i 107 of net asset value per share as calculated at the close of trading on the expiration date of the offering or ii 80 of the market price per share at such time. Fractional shares will not be issued. In addition to the shares offered in the primary subscription, the Fund may offer a 100 over-allotment to oversubscribing stockholders. Stockholders who fully subscribe in the primary offering will have the option to oversubscribe for additional shares, to the extent available. 