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First Cobalt Closes US$7.5 Million in Secured Convertible Notes
First Cobalt Closes US$7.5 Million in Secured Convertible Notes Canada NewsWire...
About this update from Electra Battery Materials Corp
[{"type":"text","content":"\n \n \n \n First Cobalt Closes US$7.5 Million in Secured Convertible Notes\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 /NOT FOR DISSEMINATION IN\n \n THE UNITED STATES\n \n OR\n \n \n \n \n FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES/\n \n \n \n \n \n TORONTO\n \n ,\n \n Oct. 22, 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 completed the sale of additional Secured Convertible Notes, for an aggregate amount of\n \n US$7.5 million\n \n , as part of 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 investors on\n \n August 23, 2021\n \n , 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 offering of Notes was led by Cantor Fitzgerald & Co., as sole placement agent. Cantor Fitzgerald & Co. received a placement agent fee equal of 4% of the gross proceeds of the additional Notes sold.\n \n \n With the exercise of the option, First Cobalt is adequately financed for the recommissioning and expansion of its hydrometallurgical refinery in\n \n Ontario\n \n , and on track to becoming\n \n North America's\n \n only producer of sustainable battery-grade cobalt sulfate by Q4'2022.\n \n \n The securities offered have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the \"\n \n U.S. Securities Act\n \n \"), or any applicable U.S. state securities laws, and may not be offered or sold in\n \n the United States\n \n absent registration or an available exemption from the registration requirement of the U.S. Securities Act and applicable U.S. state securities laws. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor...