pcNewsWire – First Cobalt Corp. (TSX-V: FCC; OTCQB: FTSSF) intends to close a non-brokered private placement of 2,165,000 flow-through shares at CDN $0.60 per FT share for gross proceeds of CDN $1,300,000.
Proceeds will be used to incur eligible Canadian Exploration Expenses as defined in the Income Tax Act (Canada) at the Company’s Keeley-Frontier Project, located in Ontario, Canada.
Press Release
First Cobalt Announces Non-Brokered Flow-Through Private Placement Financing of $1.3 Million
TORONTO, ONTARIO–(Marketwired – May 17, 2017) – First Cobalt Corp. (TSX VENTURE:FCC)(OTCQB:FTSSF) (the “Company”) is pleased to announce a non-brokered private placement financing (the “Offering”) of approximately 2,165,000 flow-through shares (“Flow-Through Share”) at a price of C$0.60 per Flow-Through Share for gross proceeds of about C$1,300,000.
All proceeds from the sale of the Flow-Through Shares will be used to incur eligible Canadian Exploration Expenses as defined in the Income Tax Act (Canada) at the Company’s Keeley-Frontier Project, located in Ontario, Canada.
The Flow-Through Shares will be issued on a private placement basis in certain provinces of Canada, in each case, pursuant to applicable exemptions from the prospectus requirements under applicable securities laws.
Closing of the Offering is expected to occur on or about May 26, 2017 and is subject to receipt of regulatory approvals, including the approval of the TSX Venture Exchange. The securities to be issued under the Offering will have a hold period of four months and one day from their issue.
The securities being offered will not be registered under the United States Securities Act of 1933, as amended and may not be offered or sold within the United States absent registration or an exemption from the registration requirements. This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States.
About First Cobalt
First Cobalt is focused on building a diversified global portfolio of assets that are highly leveraged to the cobalt market. The Company’s current assets include interests in an option over seven prospective copper-cobalt properties covering 190 square kilometres in the Democratic Republic of the Congo all with known surface mineralization, as well as an option in Canada for the former producing Keeley-Frontier mine, a high-grade mine that produced over 3.3 million pounds of cobalt and 19.1 million ounces of silver from 301,000 tonnes of ore.
On behalf of First Cobalt Corp.
Trent Mell, President & Chief Executive Officer
For more information visit www.firstcobalt.com.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Contact Information
First Cobalt Corp.
Heather Smiles
Investor Relations
+1.416.900.3891
info@firstcobalt.com
www.firstcobalt.com
