The Prospector News

First Cobalt Announces Warrant Proceeds and Leadership Team Addition

You have opened a direct link to the current edition PDF

Open PDF Close
Uncategorized

Share this news article

 

 

 

 

 

First Cobalt Corp. (TSX-V: FCC) (OTCQX: FTSSF) is pleased to announce that it has received a further $1.92 million in cash proceeds from warrants subsequent to an acceleration notice provided to holders on February 23, 2021.

 

Under the terms of the warrants issued as part of the Company’s March 2019 and February 2020 private placements, the Company provided holders with notice of its election to accelerate the expiry date of the warrants to March 15, 2021. At the time of the notice of acceleration, there were 5,604,561 warrants outstanding at a strike price of $0.21 per Common Share subject to the accelerated expiry date of March 15, 2021. All warrants were exercised prior to the expiry deadline for gross proceeds of $1,176,957.

 

Additionally, at the time of the notice of acceleration, there were 2,957,482 warrants outstanding at a strike price of $0.27 per Common Share subject to the accelerated expiry date of March 15, 2021. A total of 2,757,482 warrants were exercised prior to the expiry deadline for gross proceeds of $744,520. The remaining warrants have been cancelled.

 

Addition to Leadership Team

 

The Company is pleased to announce that Cora Klein has joined First Cobalt as Head of Investor Relations. In this capacity, she will be responsible for communicating our strategy to the market as First Cobalt enters the construction phase for expansion and recommissioning of its Canadian cobalt refinery.

 

Ms. Klein has 15 years of experience in communications and investor relations ranging from a micro-cap biotech company to, more recently, a global engineering and construction firm with a market cap of over $4 billion and annual net revenues of $3.6 billion.

 

Trent Mell, President & Chief Executive Officer, commented:

“We are pleased to welcome Cora to the team. Her experience across different industries and with a global investor base will serve us well as we work towards a greener future powered by electric vehicles.”

 

About First Cobalt

 

First Cobalt owns North America’s only permitted cobalt refinery. Cobalt refining is a critical component to the development and manufacturing of batteries for electric vehicles and forms a foundational piece of the next generation of the North American auto sector and other electrified consumer and industrial applications. First Cobalt owns the Iron Creek cobalt-copper project in Idaho, USA and controls significant silver and cobalt assets in the Canadian Cobalt Camp, including more than 50 past producing mines.

 

Posted March 16, 2021

Share this news article

MORE or "UNCATEGORIZED"


Kirkland Lake Gold Reports Solid Production in First Quarter 2021

Kirkland Lake Gold Ltd. (TSX:KL) (NYSE:KL) (ASX:KLA) announced pr... READ MORE

April 9, 2021

Ascot Resources Ltd. Announces Closing of C$61,000,000 Bought Deal Financing

Ascot Resources Ltd. (TSX: AOT) (OTCQX: AOTVF) is pleased to ann... READ MORE

April 9, 2021

Rio Tinto reaches agreement with Turquoise Hill Resources on financing plan for Oyu Tolgoi

Rio Tinto has entered into a binding Heads of Agreement with Turq... READ MORE

April 9, 2021

Frontier Lithium Announces Acquisition of the 2.5% Net Smelter Royalty on the PAK Lithium Project

Frontier Lithium Inc. (TSX-V: FL) (OTCQX: LITOF) (FSE: HL2) annou... READ MORE

April 9, 2021

Uranium Energy Corp Completes Financing and Reports Over $110 Million in Cash, Equity and Inventory Holdings as of April 9, 2021

Uranium Energy Corp (NYSE: UEC) is pleased to announce the closin... READ MORE

April 9, 2021

Copyright 2021 The Prospector News