Cobalt Blockchain announces private placement
2019-11-25 15:06:23 [Print]
BEIJING (Asian Metal) 25 Nov 19 - On November 22, Canadian-based Cobalt Blockchain Inc
The Company intends to use the net proceeds of the offering to fund i) exploration work on its joint venture properties, ii) commissioning of the cobalt hydroxide plant in Democratic Republic of Congo and securing adequate feed material for the plant, and iii) for working capital and general corporate purposes.
. announced that it is still working towards completion of the previously announced private placement offering through the issuance of 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 Exchange has granted an extension up to December 11, 2019 to complete the placement . The placement is unbrokered.The Company intends to use the net proceeds of the offering to fund i) exploration work on its joint venture properties, ii) commissioning of the cobalt hydroxide plant in Democratic Republic of Congo and securing adequate feed material for the plant, and iii) for working capital and general corporate purposes.