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Cobalt Blockchain Announces Private Placement
Cobalt Blockchain Announces Private Placement Canada NewsWire TORONTO, Dec. 23, ...
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[{"type":"text","content":"\n\n\n\nCobalt Blockchain Announces Private Placement\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\n\n\n\n\n\n\nCanada NewsWire\nTORONTO, Dec. 23, 2019\n\n\n\nTORONTO, Dec. 23, 2019 /CNW/ - Cobalt Blockchain Inc. (\"COBC\" or the \"Company\") (TSX-V: COBC; OTCQB: COBCF) is pleased to announce that it is working towards the completion of the previously announced private placement offering (the \"Offering\") through the issuance of units (\"Units\") at a price of $0.05 per Unit raising gross proceeds of $1,000,000, subject only to final approval of the TSX Venture Exchange. The placement is unbrokered.\n\n \n \n\n \nEach Unit issued pursuant to the Offering consists of one common share in the capital of the Company (a \"Common Share\") and one Common Share purchase warrant (a \"Warrant\"). Each Warrant entitles the holder thereof to purchase one additional Common Share at a price of $0.20 for a period of two years from the date of its issuance. \nThe Company intends to use the net proceeds of the Offering to fund i) exploration work on its joint venture properties, ii) commissioning of the hydroxide plant in Democratic Republic of Congo and securing adequate feed material for the plant, and iii) for working capital and general corporate purposes. \nThe securities issued in connection with the Offering are subject to a statutory four-month hold period from the date of issuance i.e. the hold periods expire four months and one day from their respective dates of issuance. \nThis press release does not constitute an offer to sell or solicitation of an offer to sell any of the securities.  The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the \"U.S. Securities Act\"), or any state securities laws.\nAbout Cobalt Blockchain Inc. \nCobalt Blockchain Inc. (TSXV:COBC) is a Canadian resource company expanding its exploration and development business to include cobalt assets in the Democratic Republic of the Congo (\"DRC\"); it holds export trading licenses for 3T, copper and cobalt from the DRC. COBC is the first mining an...