Bankers Successfully Closes Non-Brokered Private Placement

Bankers Cobalt Corp |Suite 1080, 789 West Pender Street, Vancouver, B.C., Canada, V6C 1H2 1

BANKERS SUCCESSFULLY CLOSES NON-BROKERED PRIVATE PLACEMENT

Vancouver, British Columbia - (July 20, 2020) – Bankers Cobalt Corp. (TSXV: BANC; FSE:

BC21; OTCQB: NDEND) (the “Corporation” or “Bankers”) is pleased to announce the closing

of the previously announced non-brokered private placement (the “Financing”) of 23,500,000

units (each a “Unit”) at a price of CDN $0.075 per Unit for aggregate proceeds of

CDN $1,762,500, as accepted by the TSX Venture Exchange. This represents an increase of

1,000,000 Units over the offering size announced on June 3, 2020 as the offering was

oversubscribed. Each Unit consists of one common share of the Corporation (a “Share”) and one-

half of a common share purchase warrant (each such whole share purchase warrant, a “Warrant”).

Each Warrant is exercisable into one Share at an exercise price of $0.10 per Share for a period of

two years from the date of issuance. All Shares acquired in the private placement are subject to a

voluntary trading restriction with 25% of the Shares acquired being released every 4 months after

closing of the Financing.

In connection with the private placement the Corporation has paid finder’s fees in cash equal to

$21,108.70, representing 6% of the gross proceeds raised by finders, and 281,160 common share

purchase warrants (the “Broker Warrants”), representing 6% of the Units sold through finders.

The proceeds from the Financing will be used to fund due diligence on projects of merit presented

to the Corporation and for general working capital purposes.

The securities issued in connection with the Financing are subject to a hold period under applicable

securities laws, which will expire on November 18, 2020.

Related Party Participation in the Private Placement

Directors, management and insiders subscribed for an aggregate of 4,460,000 Units representing

aggregate gross proceeds of $334,500. The purchase of such Units is considered to be a related-

party transactions under Multilateral Instrument 61-101 – Protection of Minority Security Holders

in Special Transactions (“MI 61-101”), but is exempted from the requirements to obtain a formal

valuation and to obtain minority approval, as the purchase of securities does not exceed 25% of

the Corporation’s market capitalization. The Corporation is relying on exemptions from the formal

valuation and minority shareholder approval requirements provided under sections 5.5(a) and

5.7(1)(a) of MI 61-101.

The Corporation did not file a material change report more than 21 days before the expected

closing of the Financing because the details of the participation therein by related parties of the

Corporation were not settled until shortly prior to closing of the Financing and the Corporation

wished to close on an expedited basis for business reasons.

About Bankers

Bankers is a natural resource company with a primary focus on the acquisition, exploration,

development and operation of cobalt and copper mineral projects in the DRC. Bankers holds rights

to nine mineral projects strategically located in the southern DRC CopperBelt. Bankers has the

intention to acquire interests in additional concessions or relinquish concessions in the normal

course of business. Bankers has an experienced management team in the southern CopperBelt of

the DRC.

Bankers Cobalt Corp |Suite 1080, 789 West Pender Street, Vancouver, B.C., Canada, V6C 1H2 2

ON BEHALF OF THE BOARD OF BANKERS COBALT CORP.

“Stephen Barley”

Chairman & CEO

For further information:

Phone: (604-834-2968)

Email: [email protected]

Website: www.bankerscobalt.com

Reader Advisory

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture

Exchange) accepts responsibility for the adequacy or accuracy of this release.

This news release contains “forward-looking information” within the meaning of applicable securities laws including,

but not limited to, statements relating to the outlook of the business of the Corporation, and the use of proceeds from the

Financing. Although the Corporation believes considering the experience of its officers and directors, current conditions

and expected future developments and other factors that have been considered appropriate, that the expectations reflected

in this forward-looking information are reasonable, undue reliance should not be placed on them as the Corporation can

give no assurance that they will prove to be correct. Actual results and developments may differ materially from those

contemplated by these statements. The statements in this press release are made as of the date of this release. The

Corporation undertakes no obligation to comment on analyses, expectations or statements made by third parties in respect

of the Corporation its securities, or its financial or operating results.