/C O R R E C T I O N from Source — First Cobalt Corp./
$2.5 Million Private Placement, issued 28-Aug-2020 by First Cobalt Corp. over CNW, we are advised by the company that the price per Unit in the first paragraph should read $0.14 rather than $0.16 as issued inadvertently. Additionally, an amendment has been made in the fifth paragraph to indicate that the finder’s fees were paid to Red Cloud Securities Inc. and others. The complete, corrected release follows:
First Cobalt Completes $2.5 Million Private Placement
UNITED STATES NEWSWIRE SERVICES
OR FOR DISSEMINATION IN THE UNITED STATES/
TORONTO, Aug. 28, 2020 /CNW/ – First Cobalt Corp. (TSX-V: FCC) (OTCQX: FTSSF) (the “Company”) is pleased to announce the closing of a non-brokered private placement previously announced on August 11 and 18, 2020 (the “Offering”) for gross proceeds of $2,510,010. In connection with closing, the Company has issued 8,225,000 units of the Company (the “Flow-Through Units”) at a price of $0.16 per Flow-Through Unit for gross proceeds of approximately $1.3 million and 8,528,643 units (the “Units”) of the Company at a price of $0.14 per Unit for gross proceeds of approximately $1.2 million.
$0.21 per Common Share, for a period of 24 months.
Canada) related to the Company’s projects in Ontario, Canada. The Company intends to use the net proceeds from the sale of Units for general corporate purposes.
$131,040 in cash and 852,750 Warrants.
December 28, 2020. The securities have not been 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.
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 a cobalt project in the United States and controls significant silver and cobalt assets in the Canadian Cobalt Camp, including more than 50 past producing mines.
On behalf of First Cobalt Corp.
Trent Mell
President & Chief Executive Officer
www.sedar.com. Although First Cobalt believes that the information and assumptions used in preparing the forward-looking statements are reasonable, undue reliance should not be placed on these statements, which only apply as of the date of this news release, and no assurance can be given that such events will occur in the disclosed times frames or at all. Except where required by applicable law, First Cobalt disclaims any intention or obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.” data-reactid=”47″>This news release may contain forward-looking statements and forward-looking information (together, “forward-looking statements”) within the meaning of applicable securities laws and the United States Private Securities Litigation Reform Act of 1995. All statements, other than statements of historical facts, are forward-looking statements. Generally, forward-looking statements can be identified by the use of terminology such as “plans”, “expects’, “estimates”, “intends”, “anticipates”, “believes” or variations of such words, or statements that certain actions, events or results “may”, “could”, “would”, “might”, “occur” or “be achieved”. Forward-looking statements involve risks, uncertainties and other factors that could cause actual results, performance and opportunities to differ materially from those implied by such forward-looking statements. Factors that could cause actual results to differ materially from these forward-looking statements are set forth in the management discussion and analysis and other disclosures of risk factors for First Cobalt, filed on SEDAR at www.sedar.com. Although First Cobalt believes that the information and assumptions used in preparing the forward-looking statements are reasonable, undue reliance should not be placed on these statements, which only apply as of the date of this news release, and no assurance can be given that such events will occur in the disclosed times frames or at all. Except where required by applicable law, First Cobalt disclaims any intention or obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.
SOURCE First Cobalt Corp.
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