The Prospector News

Cobalt Power Announces Closing of $1.1 MM Private Placement

You have opened a direct link to the current edition PDF

Open PDF Close
Uncategorized

Share this news article

Cobalt Power Announces Closing of $1.1 MM Private Placement

 

 

 

 

 

Cobalt Power Group Inc. (TSX-V: CPO) (OTC Pink: CBBWF) is pleased to announce it has closed a non-brokered private placement for aggregate gross proceeds of $1,116,000 through the issuance and combination of (i) 2,800,000 units of the Company at a price of $0.22 per Unit for gross proceeds of $616,000. Each Unit consists of one common share of the Company and one-half of one Common Share purchase warrant. Each Warrant entitles the holder thereof to purchase a Common Share at an exercise price of $0.35 for a period of two years following the date of issuance; and (ii) 2,000,000 flow-through common shares at a price of $0.25 per FT Share for gross proceeds of $500,000.

 

 

The Company paid a cash commission of $60,360, equal to 6% of the proceeds raised from subscribers introduced to the Company by finders and 258,000 broker warrants, equal to 6% of the Units issued pursuant to the offering.

 

 

Closing of the offering is subject to receipt of all necessary corporate and regulatory approvals, including the approval of the TSX-Venture Exchange. All securities issued in connection with the offering are subject to a hold period of four months plus a day from the date of issuance and the resale rules of applicable securities legislation. Proceeds of the offering will be used for general working capital purposes.  

 

 

About Cobalt Power Group Inc.

 

Cobalt Power Group Inc. is a publicly traded Canadian exploration company listed on the TSX-Venture Exchange and U.S. Pink Sheets (TSXV: CPO) (OTC Pink: CBBWF) focused on cobalt exploration and development. The Company has made a series of strategic property acquisitions over the past two years, seeking cobalt mineralization near Cobalt, Ontario, a region with a long history of silver and associated cobalt production. Property holdings total approximately 8,736 hectares (21,600 acres) in contiguous and strategic claim blocks. There are several historic mining operations on the properties that are potentially accessible, including the Smith Cobalt shaft and its underground workings.

 

Posted March 8, 2018

Share this news article

MORE or "UNCATEGORIZED"


Minera Alamos Receives $5,000,000 from Santana Royalty Closing

Minera Alamos Inc. (TSX-V: MAI) is pleased to report that followi... READ MORE

April 3, 2020

Braveheart Resources Inc. Provides Further Update on 2020 Underground Drilling Program at Bull River Mine Project

Braveheart Resources Inc. (TSX-V: BHT) announces that it has rece... READ MORE

April 3, 2020

Orla Mining Announces Closing of C$75,030,000 Bought Deal Financing

Orla Mining Ltd. (TSX:OLA) is pleased to announce that it has clo... READ MORE

April 3, 2020

AFRICAN GOLD GROUP ANNOUNCES SIGNIFICANT HIGH-GRADE GOLD AT KOBADA PROJECT, INCLUDING 2.14G/T GOLD OVER 16 METERS AND OTHER CORPORATE UPDATES

African Gold Group, Inc. (TSX-V: AGG) is pleased to report new drill res... READ MORE

April 3, 2020

Bonterra Intersects 18.26 g/t Au Over 1.7 metres at Gladiator

Bonterra Resources Inc. (TSX-V: BTR) (OTCQX: BONXF) (FSE: 9BR2) a... READ MORE

April 2, 2020

Copyright 2020 The Prospector News - Site design by Spyderbaby Productions