Cobalt Power Group Announces Corporate Update and Pending Private Placement
142-1146 Pacific Blvd.
Vancouver, BC V6Z 2X7
Tel: 604.620.7737
www.cobaltpowergroup.com
NEWS RELEASE
TSX.V: CPO February 16, 2017
COBALT POWER GROUP ANNOUNCES CORPORATE UPDATE AND PENDING PRIVATE
PLACEMENT
February 16 , 2017 Vancouver, British Columbia – Cobalt Power Group Inc. (the “Company”) (TSX.V:
CPO) today announces a corporate update and a pending private placement.
Recently, Cobalt Power Group has seen an upswing in market activity . The Company attributes this
increase to several factors. The energy metals space has received significant focus over the past several
months due to the rise in demand for lithium -ion batteries. Cobalt, in particular, has been on the forefront of
media exposure. As a result, over this time period (Sept 2016- Feb 2017), the price of cobalt has risen from
approximately USD$12.00/lb to USD$19.50/lb. Cobalt Power Group has amassed a significant portfolio of
cobalt assets in the Cobalt, Ontario region of Canada (see news releases dated September 6 & 13, 2016,
and October 11, 2016 ). The Company has completed its phase 1 Smith Cobalt exploration program ( see
news release dated November 17, 2016 ) and begun its phase 2 program ( see news release dated
November 22, 2016).
The Company is in the process of finalizing two private placements pursuant to price reservation forms filed
with the TSX Venture Exchange.
The first is a non -brokered private placement of 13,000,000 units of the Company at a price of $0.08 per
unit for total gross proceeds of up to CDN$1,040,000. Each Unit consists of one previously unissued
common share (a “Share”) and one -half common share purchase warrant (a “Warrant”) of the Issuer. One
whole Warrant will entitle the holder, on exercise, to purchase one common share of the Issuer (a “Warrant
Share”) at a price of $0.16 per share at any time until the close of business on the day which is eighteen
months from the Closing Date.
The second placement is a non -brokered private placement of 4,000,000 flow through sha res at a price of
$0.12 per share for total gross proceeds of up to CDN$480,000.
The proceeds of the Offering s to be raised will be used by the Issuer to commence an extensive
exploration program on the Company’s Smith Cobalt project located in the vicinit y of the City of Cobalt in
the Province of Ontari o, and administrative expenses. The phase 3 exploration program will consist of drill
target identification (once all data from phase 2 has been analysed) and drilling.
Finder’s fees acceptable to the TSX Venture Exchange will be payable in connection with a portion of the
Offerings.
Both placements are subject to filing of final documentation with the TSX Venture Exchange.
The private placements are expected to close in the third week of February.
About the Smith Cobalt Project
The Smith Cobalt project is underlain by a sequence of Archaean volcanics which are uncomformably
overlain by Huronian sediments. These formations have been intruded by the Proterozoic -age Nipissing
diabase sill. Faulting, on bot h a regional and local scale, has been found by surface mapping and in drill
cores. Polymetallic veining, and especially pinkish -white carbonate veins, has also been reported. Thus, all
the necessary geological components of accepted m ineralization models for cobalt-silver have been
identified on the properties.
About Cobalt Power Group Inc.
Cobalt Power Group Inc. is a publicly traded Canadian exploration company listed on the TSX -Venture
Exchange (TSX-V: CPO) focused on cobalt exploration and development.
The company has made a series of strategic property acquisitions over the past several months, seeking
cobalt mineralization near Cobalt, Ontario - a region with a long history of silver and associated cobalt
production. Property holdings tot al 720 ha (17 80 acres) in contiguous blocks. There are several historic
mining operations on the propert ies that are potentially accessible, including the Smith Cobalt shaft and its
underground workings.
Chris M. Healey, P. Geo, a Director of Cobalt Power Group is the qualified person responsible for the
technical content of this release, and consents to its dissemination.
On behalf of the Board of Directors
“Andreas Rompel”
_________________
Dr. Andreas Rompel, President and CEO
Cobalt Power Group Inc.
www.cobaltpowergroup.com
We seek safe harbor.
For additional information, please contact Daniel Caamano, VP Corporate Communications or Judy A.
McCall, Corporate Secretary at: 604.620.7737. The company’s profile may also be viewed on
www.sedar.com.
The TSX Venture Exchange Inc. has in no way passed upon the merits of the proposed transaction
and has neither approved nor disapproved the contents of this press release.
Forward Looking Information
The TSX Venture Exchange has not reviewed and does not acce pt responsibility for the adequacy or accuracy of the
content of this News Release. WARNING: The Company relies on litigation protection for “forward looking"
statements. Actual results could differ materially from those described in the news release as a result of numerous
factors, some of which are outside the control of the Company. This news release does not constitute an offer to sell
or a solicitation of an offer to sell any of the securities in the United States. The securities have not been and will not
be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Ac t”) or any state
securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the
U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.