Canada Silver Cobal T Completes $6.0 Million Private Placement
CANADA SILVER COBAL T COMPLETES $6.0 MILLION PRIVATE PLACEMENT
Coquitlam, BC, April 14, 2022 - Canada Silver Cobalt Works Inc. (TSXV: CCW) (OTC: CCWOF) (Frankfurt: 4T9B)
(the "Company" or "Canada Silver Cobalt") announces that it has closed its previously-announced upsized
brokered private placement (the “ Offering”) by raising gross proceeds of approximately $6.04 million,
including following partial exercise of an agents’ option to increase the size of the Offering. At the closing of
the Offering, the Company issued 7,468,000 units (“ Units”) at a price of $0.25 per Unit, 8,682,500 flow-
through units (“FT Units”) at a price of $0.27 per FT Unit, and 6,310,000 Quebec flow-through units (“QFT
Units”) at a price of $0.29 per QFT Unit.
The Offering was conducted on a “best efforts” agency basis and was led by Research Capital Corporation, as
sole bookrunner, together with Canaccord Genuity Corp. as co-lead agents (collectively, the “Agents”).
Each Unit consists of one common share (a “Common Share”) and one common share purchase warrant (a
“Warrant”). Each FT Unit consists of one flow-through Common Share (a “FT Share”) that will qualify as a
“flow-through share” within the meaning of the Income Tax Act (Canada) (the “Tax Act”) and one Warrant.
Each QFT Unit consists of one Quebec flow-through Common Share (a “ QFT Share”) that will qualify as a
“flow-through share” within the meaning of the Tax Act and the Taxation Act (Québec) and one Warrant. Each
Warrant entitles its holder to purchase one additional Common Share at an exercise price of $0.32 per share
at any time up to 36 months following the closing of the Offering.
Canada Silver Cobalt will use the net proceeds from the Offering for continued exploration activities, working
capital and general corporate purposes. The gross proceeds from the issue and sale of the FT Units and QFT
Units will be used to incur Canadian Exploration Expenses and “flow-through mining expenditures” as defined
in the Tax Act and the Taxation Act (Quebec) on the Company’s Castle property and Graal property,
respectively, on or before December 31, 2023 and renounced with an effective date no later than December
31, 2022 to the initial purchasers of FT Units and QFT Units in an aggregate amount not less than the gross
proceeds from the sale of the FT Units and QFT Units.
The Units, FT Units and QFT Units have a hold period of four months and one day from the closing of the
Offering.
In connection with the Offering, the Company paid the Agents a cash commission of $422,882, representing
7% of the gross proceeds from the Offering, and issued compensation warrants to the Agents entitling them
to purchase up to 1,572,235 Units at an exercise price of $0.25 for a period of three years from closing of the
Offering.
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. This discovery has the highest silver resource grade
in the world, with recent drill intercepts of up to 89,853 grams/tonne silver (2,621 oz/ton Ag). A drill
program is underway to expand the size of the deposit with an update to the resource estimate scheduled
for Q1 2022.
Canada Silver Cobalt Works Inc.
3028 Quadra Court
Coquitlam, B.C., V3B 5X6
CanadaSilverCobaltWorks.com
Page 2 of 2
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 do not have demonstrated economic
viability. Please refer to Canada Silver Cobalt Works Press Release dated 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.
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 on site, 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
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 which include, but are not limited to, comments
regarding the use of proceeds from the Offering and comments that involve other future events and conditions,
which are subject to various risks and uncertainties. Except for statements of historical facts, comments that
address the use of proceeds from the Offering, resource potential, upcoming work programs, geological
interpretations, receipt and security of mineral property titles, future financings, availability of funds, and
others are forward-looking. 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
encountered by Canada Silver Cobalt is available in the Company’s Annual Information Form dated July 19,
2021 for the fiscal year ended December 31, 2020 available under the Company’s profile on SEDAR at
www.sedar.com.