TORONTO, Feb. 1, 2019 /CNW/ - Cobalt Blockchain Inc.
("COBC" or the "Company") (TSX-V: COBC; OTCQB: COBCF) is pleased to
announce announced that it has today closed the first tranche of
its previously announced private placement offering (the
"Offering") through the issuance (on a non-brokered basis) of
4,333,333 units ("Units") at a price of $0.15 per Unit for a gross proceeds of
$650,000.
Each Unit issued pursuant to the Offering consists of one common
share in the capital of the Company (a "Common Share") and one half
of one Common Share purchase warrant (each whole warrant, a
"Warrant"). Each Warrant entitles the holder thereof to purchase
one additional Common Share at a price of $0.20 for a period of five years.
The securities to be issued in connection with the Offering are
subject to a statutory four-month hold period from the date of
issuance.
Conferences and Events
COBC management will be attending upcoming conferences
including:
- Investing in Africa Mining Indaba (Cape Town, Feb 4
- 7).
- Prospectors & Developers Association of Canada (PDAC) 2019 (Toronto, Mar 3 -
6)
About Cobalt Blockchain Inc.
Cobalt Blockchain Inc. (TSX-V: COBC; OTCQB: COBCF) is a Canadian
resource company expanding its exploration and development business
to include cobalt assets in the Democratic Republic of the Congo
("DRC"). Through its wholly owned DRC subsidiary it holds
processing and export licenses for tin, tantalum, tungsten, copper
and cobalt. COBC is the first mining and mineral trade
company set up specifically to procure cobalt in compliance with
the Organisation for Economic Co-operation and Development ("OECD")
due diligence framework. COBC and its partners have developed and
are implementing a blockchain-based traceability and reporting
platform to provide greater certainty of provenance and further
assurance that all minerals procured are ethically-sourced.
Senior management have over twelve years of experience working in
the DRC and a proven international track record in exploration
success and the trading of certified conflict-free,
child-labour-free minerals.
Forward-Looking Information
This release includes certain statements that may be deemed
"forward-looking statements". All statements in this release, other
than statements of historical facts, that address future
production, reserve potential, exploration drilling, exploitation
activities and events or developments that the Company expects are
forward-looking statements. Although the Company believes the
expectations expressed in such statements are based on reasonable
assumptions, such statements are not guarantees of future
performance and actual results or developments may differ
materially from those in the statements. There are certain factors
that could cause actual results to differ materially from those in
forward-looking statements. These include market prices,
exploitation and exploration successes, continued availability of
capital and financing, and general economic, market or business
conditions. Investors are cautioned that any such statements are
not guarantees of future performance and actual results or
developments may differ materially from those projected in the
forward-looking statements. For more information on the Company,
investors should review registered filings at www.sedar.com.
Neither the 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.
SOURCE Cobalt Blockchain Inc.