The Prospector News

First Cobalt Closes $9.8 Million Financing

You have opened a direct link to the current edition PDF

Open PDF Close
Uncategorized

Share this news article

First Cobalt Closes $9.8 Million Financing

 

 

 

 

 

First Cobalt Corp. (TSXV: FCC) (OTCQX: FTSSF) is pleased to announce that it has closed its previously announced bought deal offering of units of the Company. The Offering was conducted by a syndicate of underwriters led by Eight Capital, together with CIBC World Markets Inc., Canaccord Genuity Corp., Red Cloud Securities Inc. and Mackie Research Capital Corporation and consisted of the sale of 31,533,000 Units (including the full exercise of the over-allotment option by the Underwriters) at a price of C$0.31 per Unit for aggregate gross proceeds of $9,775,230.

 

Each Unit consists of one common share of the Company and one-half of one common share purchase warrant. Each Warrant is exercisable into one common share of the Company at an exercise price of $0.50 per common share for a period of 24 months from the closing of the Offering.

 

The Company intends to use the net proceeds of the Offering for the advancement of the First Cobalt Refinery and for general corporate purposes.

 

The Underwriters received a cash commission equal to 6% of the gross proceeds of the Offering and 1,891,980 compensation warrants, each Compensation Warrant exercisable to acquire one common share of the Company at the Offering Price, for a period of 24 months from the closing of the Offering.

 

The securities issued pursuant to the Offering were qualified for distribution pursuant to a prospectus supplement dated January 18, 2021 to First Cobalt’s short form base shelf prospectus dated November 26, 2020, filed in each of the provinces of Canada, except Quebec, and offered and sold outside of Canada to qualified investors in accordance with applicable law. The Prospectus Supplement, the Base Shelf Prospectus and the documents incorporated by reference therein, are available on the Company’s issuer profile on SEDAR at www.sedar.com.

 

This press release does not constitute an offer to sell, or a solicitation of an offer to buy, any securities, nor shall there be any sale of securities in any jurisdiction in which such offer or sale would be unlawful. The Units, Shares and Warrants, as well as the Shares issuable upon exercise of the Warrants, have not been and will not be registered under the U.S. Securities Act, or any securities or “blue sky” laws of any of the states of the United States. Accordingly, such securities may not be offered or sold within the United States except in accordance with an exemption from the registration requirements of the U.S. Securities Act and applicable state securities laws.

 

Posted January 22, 2021

Share this news article

MORE or "UNCATEGORIZED"


Energy Fuels Announces Q2-2021 Results, Including Robust Balance Sheet, Market Leading U.S. Uranium and Vanadium Position & Launch of U.S. Commercial Rare Earth Production; Webcast on August 3, 2021

Energy Fuels Inc. (NYSE American: UUUU) (TSX: EFR) reported its f... READ MORE

August 2, 2021

Wealth Closes Final Tranche of Strategic Investment for Total of $3,036,000

Wealth Minerals Ltd. (TSX-V: WML) (OTCQB: WMLLF) (SSE: WMLCL) (FS... READ MORE

August 2, 2021

Blue Sky Uranium Closes Final Tranche of Non-Brokered Private Placement

Blue Sky Uranium Corp. (TSX-V: BSK) (FSE: MAL2) (OTC: BKUCF) is p... READ MORE

August 2, 2021

Thor Explorations Announces First Gold Pour at Its Segilola Gold Mine in Nigeria

Thor Explorations Ltd. (TSX-V: THX) (AIM: THX) is pleased to anno... READ MORE

July 30, 2021

Goliath Drills 67.1 Meters of Quartz-Sulphide Veining, Brecciation and Associated Alteration in Fourth Drill Hole (GD21-004) at the Surebet Zone, Golden Triangle B.C.

One hundred percent of the drill holes completed to date have int... READ MORE

July 30, 2021

We acknowledge the [financial] support of the Government of Canada.

Government of Canada Supported
Copyright 2021 The Prospector News