Canada Silver Cobalt Increases Private Placement
Canada Silver Cobalt Increases Private
Placement
COQUITLAM, BC, Sept. 2, 2020 /CNW/ - Canada Silver Cobalt Works
Inc. (TSXV: CCW) (OTC: CCWOF) (Frankfurt: 4T9B) (the "Company"
or "Canada Silver Cobalt") announces that further to its news release
dated today, the Company has increased and closed on an additional
$50,000 bringing the total funds raised in all tranches to $6,743,730.
The Company has issued an additional 90,909 units ("Units") in the
final closing. Each Unit is comprised of one common share of the
Company and 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 $0.65 per share, for a period of
three years from closing, subject to TSX Venture Exchange
("Exchange") final approval.
The proceeds of the private placement will be used for ongoing drilling
of the Castle East Robinson Zone discovery, near the town of
Gowganda, Ontario and for general working capital.
All securities issued in connection with the private placement are
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'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-Cobalt District of Northern Ontario. With an important new
discovery at Castle East, underground access at the Castle mine, a
processing facility (TTL Laboratories) in the nearby town of Cobalt, a
proprietary hydrometallurgical process known as Re-2OX, and the
Beaver and Violet properties, CCW is strategically positioned to
become a Canadian leader in the silver-cobalt space.
"Frank J. Basa"
Frank J. Basa, P. Eng.
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 Silver Cobalt Works Inc.
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http://www.newswire.ca/en/releases/archive/September2020/02/c3148
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%SEDAR: 00022378E
For further information: Frank J. Basa, P.Eng., CEO, 1-416-625-
2342; Wayne Cheveldayoff, Corporate Communications,
[email protected], 1-416-710-2410
CO: Canada Silver Cobalt Works Inc.
CNW 20:58e 02-SEP-20