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First Cobalt Announces US$7.5 Million in Proceeds from Exercise of Investor Option
First Cobalt Announces US$7.5 Million in Proceeds from Exercise of Investor Option ...
About this update from Electra Battery Materials Corp
[{"type":"text","content":"\n \n \n \n First Cobalt Announces US$7.5 Million in Proceeds from Exercise of Investor Option\n \n \n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prntac{\nTEXT-ALIGN: CENTER\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n \n \n /NOT FOR DISSEMINATION IN\n \n THE UNITED STATES\n \n OR FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES./\n \n \n \n \n TORONTO\n \n ,\n \n Oct. 20, 2021\n \n /CNW/ -\n \n First Cobalt Corp.\n \n (TSXV: FCC) (the \"\n \n Company\n \n \") is pleased to announce that it has received notice of the full exercise of a\n \n US$7.5 million\n \n option by investors in the Company's recently completed offering of 6.95% senior secured convertible notes due\n \n December 1, 2026\n \n (the \"\n \n Notes\n \n \").\n \n \n \n \n \n \n \n \n \n Pursuant to subscription agreements entered into between the Company and each investor on\n \n August 23, 2021\n \n with respect to the Notes, each investor had the right to subscribe for additional Notes,\n \n pro rata\n \n , for an aggregate additional principal amount of up to\n \n US$7.5 million\n \n . The additional Notes are expected to be issued on\n \n October 22, 2021\n \n .\n \n \n The offering of Notes was led by Cantor Fitzgerald & Co., as sole placement agent.\n \n \n For additional information with respect to the Notes and the terms thereof, refer to the Company's news releases dated\n \n August 23\n \n ,\n \n August 24\n \n , and\n \n September 3, 2021\n \n , the Company's material change report dated\n \n September 2, 2021\n \n , and the indenture governing the Notes, each of which is publicly available under the Company's SEDAR profile at\n \n www.sedar.com\n \n .\n \n \n \n \"We are happy to have the continued support from the Noteholders. This is a great vote of confidence in the team's ability to create long-term shareholder value as we continue to move our refinery project forward toward commissioning, set for Q4'2022; at which point we'll be\n \n North America's\n \n only source of high-quality, sustainable and traceable battery grade cobalt sulfate\",\n \n said Chief Financial Officer,\n \n Ryan Snyd...