Business
Cameo Cobalt Closes Oversubscribed Private Placement
VANCOUVER, British Columbia, March 26, 2019 (GLOBE NEWSWIRE) -- Cameo Cobalt Corp. (TSX Venture: CRU) (OTC: CRUUF) (FWB: SY7N) (the “Company” or “Cameo Cobalt”)
About this update from Quebec Rare Earth Elements Corp
[{"type":"text","content":" VANCOUVER, British Columbia, March 26, 2019 (GLOBE NEWSWIRE) -- Cameo Cobalt Corp. (TSX Venture: CRU) (OTC: CRUUF) (FWB: SY7N) (the “Company” or “Cameo Cobalt”) is pleased to announce that it has closed an over-subscribed non-brokered private placement of 24,300,000 units (“Units”) of the Company at a price of $0.10 per Unit for gross proceeds of approximately CDN$2,430,000 (the “Offering”). Each Unit is comprised of one common share (a “Share”) and one transferable common share purchase warrant (a “Warrant”), with each Warrant entitling the holder thereof to purchase one additional Share at a price of $0.20 per Share for a period of two years. The net proceeds from the Offering will be used to ensure that its recently acquired MAX mine and mill remains in compliance with environmental standards, and to facilitate the authoring of an updated replacement cost report, as well as an exhaustive inventory and asset review, and to facilitate geochemistry survey and soil sampling initiatives on Cameo’s Big Mac Gold Project. Funds will also be used to advance the Company's exploration projects in Canada and for general working capital purposes. The Company paid CAD$40,250 as finder’s fees in connection with a portion of the Offering. All securities issued pursuant to the Private Placement are subject to a statutory four-month hold period pursuant to applicable securities laws of Canada. CAMEO COBALT CORP. “ Akash Patel” For more information contact:(778) 549-6714 Or Email: [email protected] www.cameocobalt.com Reader Advisory This news release contains certain “forward-looking information” within the meaning of applicable securities law. Forward-looking information is frequently characterized by words such as “plan”, “expect”, “project”, “intend”, “believe”, “anticipate”, “estimate” and other similar words, or statements that certain events or conditions “may” or “will” occur. In particular, forward-looking information in this press release includes, but is not limited to, statements with respect to the Company’s proposed acquisition, exploration program and the expectations for the cobalt industry. Although we believe that the expectations reflected in the forward-looking information are reasonable, there can be no assurance that such expectations will ...