Canada Silver Announces Quebec Flow- Through Private Placement
Canada Silver Announces
Quebec Flow- Through Private Placement
October 30, 2023 – Coquitlam, BC, Canada Silver Cobalt Works Inc. (TSXV: CCW) (OTC: CCWOF) (Frankfurt:
4T9B) (the "Company" or "Canada Silver Cobalt") announces a non-brokered private placement offering by
issuing 10,000,000 Quebec Flow-Through Units (“QFT Units”) at a price of $0.04 per QFT Unit raising gross
proceeds $400,000.
Each QFT Unit is comprised of one flow-through common share of the Company and one half of one share
purchase warrant. Each whole warrant will entitle the holder thereof to purchase one additional common
share of the Company at an exercise price of $0.08 per share, for a period of two years from closing, subject
to TSX Venture Exchange (“Exchange”) approval.
The proceeds of the QFT private placement will be used for the Company’s Lowney-Lac Edouard property,
located in central Quebec.
Finder’s fees in the amount of $28,000 cash and 350,000 warrants will be paid in connection with the
financing. The finder’s warrants are at an exercise price of $0.08 per share, for a period of two years from
closing. The finder’s fees paid in connection with the private placement are subject to Exchange approval.
All securities issued in connection with the private placement will be subject to a four-month and a day hold
period in accordance with applicable Canadian Securities Laws.
About Canada Silver Cobalt Works Inc.
Canada Silver Cobalt Works Inc. recently discovered a major high-grade silver vein system at Castle East
located 1.5 km from its 100%-owned, past-producing Castle Mine near Gowganda in the prolific and world-
class silver-cobalt mining district of Northern Ontario. The Company has completed a 60,000 m drill
program aimed at expanding the size of the deposit with an update to the resource estimate underway.
In May 2020, based on a small initial drill program, the Company published the region’s first 43-101
resource estimate that contained a total of 7.56 million ounces of silver in Inferred resources, comprising
very high-grade silver (8,582 grams per tonne un-cut or 250.2 oz/ton) in 27,400 tonnes of material from
two sections (1A and 1B) of the Castle East Robinson Zone, beginning at a vertical depth of approximately
400 meters. Note that mineral resources that are not mineral reserves and do not have demonstrated
economic viability. Please refer to Canada Silver Cobalt Works Press Release May 28, 2020, for the resource
estimate. Report reference: Rachidi, M. 2020, NI 43-101 Technical Report Mineral Resource Estimate for
Castle East, Robinson Zone, Ontario, Canada, with an effective date of May 28, 2020, and a signature date of
July 13, 2020.
The Company also has: (1) 14 battery metals properties in Northern Quebec where it has recently
completed a nearly 16,000-metre drill program on the Graal property; (2) the prospective 1,000-hectare
Eby-Otto gold property close to Agnico Eagle’s high-grade Macassa Mine near Kirkland Lake, Ontario where
it is exploring; and (3) lithium property – 230 square kilometers of greenfield exploration ground focussed
Canada Silver Cobalt Works Inc.
3028 Quadra Court
Coquitlam, B.C., V3B 5X6
CanadaSilverCobaltWorks.com
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along a significant volcanic sedimentary rock – Archean granite contact near Cochrane, Ontario contiguous
to Power Metals’ Case Lake Lithium properties.
Canada Silver Cobalt’s flagship silver-cobalt Castle mine and 78 sq. km Castle property feature strong
exploration upside for silver, cobalt, nickel, gold, and copper. With underground access at the fully owned
Castle Mine, an exceptional high-grade silver discovery at Castle East, a pilot plant to produce cobalt-rich
gravity concentrates, a processing facility (TTL Laboratories) in the town of Cobalt, 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 Silver Cobalt is strategically positioned to become a
Canadian leader in the silver-cobalt space. More information is available at
www.canadasilvercobaltworks.com.
“Frank J. Basa”
Frank J. Basa, P. Eng.
Chief Executive Officer
For further information, contact:
Frank J. Basa, P.Eng.
Chief Executive Officer
416-625-2342
or:
Wayne Cheveldayoff,
Corporate Communications
P: 416-710-2410
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.
Caution Regarding Forward-Looking Statements
This news release may contain forward-looking statements regarding Canada Silver Cobalt Works Inc. (the “Company”) and
Coniagas Battery Metals Inc. (“Coniagas”) which include, but are not limited to, comments that involve future events and
conditions, which are subject to various risks and uncertainties. Except for statements of historical facts, comments that address
the proposed distribution of common shares and common share purchase warrants of Coniagas to the shareholders of the
Company, the proposed private placement by Coniagas and proposed listing of Coniagas on a Canadian stock exchange, resource
potential, upcoming work programs, geological interpretations, receipt and security of mineral property titles, availability of
funds, and others are forward-looking. No assurance can be given that any of the foregoing will be achieved. Forward-looking
statements are not guarantees of future performance and actual results may vary materially from those statements. General
business conditions are factors that could cause actual results to vary materially from forward-looking statements. A detailed
discussion of the risk factors in connection with the proposed plan of arrangement will be set out in the Company’s management
information circular, which will be available under the Company’s profile on SEDAR+ at www.sedarplus.ca and on the Company’s
website.