Canada Cobalt Receives $1,371,437 from Exercise of Warrants
Canada Cobalt Receives $1,371,437 from
Exercise of Warrants
COQUITLAM, BC
,
Jan. 14, 2020
/CNW/ - Canada Cobalt Works Inc. (TSXV: CCW) (OTC:
CCWOF) (
Frankfurt
: 4T9B) (the "Company" or "Canada Cobalt") is pleased to announce that all
50-
cent
warrants from the Company's
January 2018
financing have been exercised, including 2,742,875
of them over the last two weeks (200,000 were exercised in early 2019).
The exercise of these warrants has added $
1,371,437
to the Company's treasury this month
following the completion of a total of
$2,134,500
in two hard dollar private placements with strategic
investors in September and
November 2019
, and
$800,000
in a flow-through financing in early
December 2019
.
Drilling continues at Canada Cobalt's Castle East high-grade silver discovery, with another update
from Castle East expected soon, while a work program has just commenced at the Company's past
producing Beaver high-grade Silver Property. The patented Beaver claims, which formed part of the
historic Beaver-Timiskaming mine, are approximately five kilometers from the Company's newly-
acquired PolyMet facility in the town of Cobalt.
About Canada Cobalt Works Inc.
Canada Cobalt's flagship Castle mine and 78 sq. km Castle Property features strong exploration
upside for silver, cobalt, nickel, gold and copper in the prolific past producing
Gowganda
high-grade
Silver District of
Northern Ontario
. With underground access at Castle, a pilot plant to produce
cobalt-rich gravity concentrates on site, and a proprietary hydrometallurgical process known as Re-
2OX for the creation of technical grade cobalt sulphate as well as nickel-manganese-cobalt (NMC)
formulations, Canada Cobalt is strategically positioned to become a vertically integrated North
American leader in cobalt extraction and recovery while it also exploits a powerful new silver-gold
market cycle.
"Frank J. Basa"
Frank J. Basa
, P. Eng.
President and Chief Executive Officer
Neither the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the
policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this
release. This news release may contain forward-looking statements including but not limited to
comments regarding the timing and content of upcoming work programs, geological interpretations,
receipt of property titles, potential mineral recovery processes, etc. Forward-looking statements
address future events and conditions and therefore, involve inherent risks and uncertainties. Actual
results may differ materially from those currently anticipated in such statements.
SOURCE
Canada Cobalt Works Inc.
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For further information:
Frank J. Basa, P.Eng., President and CEO, 1-416-625-2342; Marc
Bamber, Director, [email protected], +44-7725-960939
CO: Canada Cobalt Works Inc.
CNW 08:00e 14-JAN-20