Cobalt Blockchain Announcement Regarding Private Placements
COBALT BLOCKCHAIN ANNOUNCEMENT REGARDING PRIVATE
PLACEMENTS
TORONTO, ONTARIO (April 17, 2020) – Cobalt Blockchain Inc. (“COBC” or the "Company")
(TSX-V: COBC; OTCQB: COBCF) announced today that pursuant to its 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, the Company has been granted an extension
from the TSX Venture Exchange for the closing of the Private Placement until May 17, 2020.
Each Unit issued pursuant to the Offering will consist 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.
The Company intends to use the net proceeds of the Offering to fund for working capital and
general corporate purposes.
The securities to be 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.
The Company is also pleased to announce that pursuant to its previously announced additional
non-brokered private placement offering (the “New Offering”) through the issuance of an
additional 50,000,000 Units at a price of $0.05 per Unit for a gross proceeds of up to $2,500,000,
the Company expects to prepare a filing for submission to the TSXV in accordance with TSXV
policies in the near term.
Each Unit to be issued pursuant to the New Offering will consist of one Common Share and one
Common Share purchase warrant. Each Warrant will entitle 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. The New Offering will be brokered.
The Company intends to use the net proceeds of the New Offering to fund i) exploration work on
its joint venture properties and ii) for working capital and general corporate purposes.
2
The securities to be issued in connection with the New Offering are subject to a statutory four-
month hold period for the respective dates of issuance i.e. the hold periods expire four months
and one day from their respective dates of issuance.
This 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.
About Cobalt Blockchain Inc.
Cobalt 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 and mineral trade company set up specifically to procure cobalt in compliance
with the Organisation for Economic Co-operation and Development (“OECD”) due diligence
framework. COBC has developed and is implementing a blockchain-based reporting platform to
provide greater certainty of provenance and further assurance that all minerals procured are
ethically-sourced. Senior management have over twelve years of experience working in the DRC
and a proven international track record in exploration success and the trading of certified
conflict-free, child-labour-free minerals.
For additional information, please contact:
Lance Hooper, President and Chief Operating Officer
Cobalt Blockchain Inc.
Telephone: +1-416-500-3670
Email: [email protected]
Website: www.cobc.co
Forward-Looking Information
This release includes certain statements that may be deemed "forward -looking statements". All statements in this
release, other than statements of historical facts, that address future production, reserve potential, exploration
drilling, exploitation activ ities and events or developments that the Company expects are forward -looking
statements. Although the Company believes the expectations expressed in such statements are based on reasonable
assumptions, such statements are not guarantees of future performa nce and actual results or developments may
differ materially from those in the statements. There are certain factors that could cause actual results to differ
materially from those in forward -looking statements. These include market prices, exploitation an d exploration
successes, continued availability of capital and financing, and general economic, market or business conditions.
Investors are cautioned that any such statements are not guarantees of future performance and actual results or
developments may differ materially from those projected in the forward -looking statements. For more information
on the Company, investors should review registered filings at www.sedar.com.
Neither the TSX Venture Exchange nor its Regu lation Services Provider (as that term is defined in the policies of
the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.