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Bankers Cobalt Corp Announces up to $6.0 Million Financing
NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICESOR FOR DISSEMINATION IN THE UNITED STATES. VANCOUVER, British Columbia, May 04, 2018 (GLOBE NEWSWIRE) -- Bankers
About this update from Magma Silver Corp.
[{"type":"text","content":" NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICESOR FOR DISSEMINATION IN THE UNITED STATES. VANCOUVER, British Columbia, May 04, 2018 (GLOBE NEWSWIRE) -- Bankers Cobalt Corp. (TSXV:BANC) (FSE:BC2) (OTCQB:NDENF) (the “Corporation” or “Bankers”) announces that it intends to complete a non-brokered private placement (the “Financing”) of up to 50,000,000 units (each a “Unit”) at a price of CAD $0.12 per Unit for aggregate proceeds of up to CAD $6,000,000. Each unit will consist of one common share of the Corporation (a “Share”) and one-half of one Share purchase warrant (a “Warrant”). Each whole Warrant will be exercisable into one Share at an exercise price of $0.40 per Share for a period of two years from the date of issuance. The expiry date of each whole Warrant is subject to acceleration such that, should the volume weighted average price of the Shares on the TSX Venture Exchange or another recognized exchange be greater than CAD $0.50 for 20 consecutive trading days at any time after the closing of the Financing, the Company may accelerate the expiry date of the Warrants by giving notice to the holders thereof and in such case the Warrants will expire on the 30th day after the date on which such notice is given by the Corporation. In connection with the private placement the Corporation may pay finder’s fees in cash or securities or a combination of both, as permitted by the policies of the TSX Venture Exchange. The proceeds from the Financing will be used to fund the exploration and development of the Corporation’s mineral concessions in the Democratic Republic of the Congo (the “DRC”), the acquisition of interests in additional mineral concessions and for general working capital purposes. The securities issued pursuant to the Financing will be subject to a hold period under applicable securities laws, which will expire four months plus one day from the date of closing of the Financing. Closing of the Financing is subject to receipt of all necessary corporate and regulatory approvals, including approval of the TSX Venture Exchange. About Bankers Bankers is a natural resource company focused on the acquisition, exploration and development of cobalt and copper mineral properties in the DRC to world-class Canadian standards. As battery production for EV’s surges, demand for cobalt will probably exceed supply for many years. Accor...