Cobalt Blockchain Completes Private Placement and Shares FOR Debt Settlement
COBALT BLOCKCHAIN COMPLETES PRIVATE PLACEMENT AND
SHARES FOR DEBT SETTLEMENT
TORONTO, ONTARIO (March 19, 2019) – Cobalt Blockchain Inc. (“COBC” or the "Company")
(TSX-V: COBC; OTCQB: COBCF) is pleased to announce that it has closed its previously announced
private placement offering (the "Offering") through the issuance (on a non-brokered basis) of 4,526,734
units ("Units") at a price of $0.15 per Unit for a gross proceeds of $679,010.10.
Each Unit issued pursuant to the Offering consisted of one common share in the capital of the Company
(a "Common Share") and one half of one Common Share purchase warrant (each whole 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 five years from their respective dates of issuance.
The Company intends to use the net proceeds of the Offering to fund i) exploration work on its joint
venture properties, ii) establishment of assay lab facilities and regional offices, and iii) 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 respective dates of issuance i.e. the hold periods expire June 1, 2019 and July 16, 2019.
The Company has also received approval from the TSX Venture Exchange to convert outstanding debt
totalling $462,000 in exchange for 3,080,001 Common Shares at a price of $0.15 per share. No Warrants
were issued in connection with the debt settlement for Insiders while a non-related party received 133,333
Warrants exercisable at $0.20 per share for 5 years, expiring March 7, 2024. The securities issued in
connection with the debt conversion are subject to a statutory four-month hold period expiring July 8,
2019.
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.
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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 activities 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 performance 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 tho se in forward -looking statements. These include market prices, exploitation and exploration
successes, continued availability of capital and financing, and general economic, market or business conditions.
Investors are cautioned that any such statements ar e 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 Regulation 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.