Cobalt Power Group Closes First Non-Brokered Private Placement
142-1146 Pacific Blvd.
Vancouver, BC V6Z 2X7
Tel: 604.620.7737
www.cobaltpowergroup.com
NEWS RELEASE
TSX.V: CPO March 01, 2017
COBALT POWER GROUP CLOSES FIRST NON-BROKERED PRIVATE PLACEMENT
March 01, 2017 Vancouver, British Columbia – Cobalt Power Group Inc. (the “Company”) (TSX.V: CPO)
is pleased to announce that it has closed the first non-brokered private placement announced on February
16, 2017 for gross proceeds of CDN$1,040,000.
The non -brokered private placement closed on February 28, 2017 and consisted of the placement of
13,000,000 units at a price of $0.0 8 per unit. Each unit consisted of one common share of the Company
and one-half transferable share purchase warrant with one full warrant entitling the holder to purchase one
additional common share of the Company at a price of $0.16 for a period of eighteen (18) months following
the date of closing.
As compensation for the placement of the units, Cobalt Power paid cash finder’s fees of $29,496 calculated
at 6% of the amount placed by four (4) finders. In addition, the Company issued to eligible finders 399,000
Broker Warrants also calculated at 6% of the units placed by the eligible finders. Each Broker’s Warrant is
exercisable at price of $0.16 to purchase one addition al common share of the Company for a period of
eighteen (18) months from the date of closing of the Private Placement.
All securities issued by Cobalt Power pursuant to the offering have been issued subject to a four mont h
hold period expiring June 29, 2017.
The non-brokered private placement received substantial interest within a very short period of time forcing
the Company into the situation whereby some of the subscriptions were not filled.
The proceeds will be used to commence an extensive exploration program on the Company’s Smith Cobalt
project consisting of drill target identification and drilling, as well as for administrative expenses.
Dr. Andreas Rompel, President and CEO of Cobalt Power Group comments, “ We are pleased with the
overwhelming response this private placement received, the funds of which will enable us to advance the
Smith Cobalt project promptly.”
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 both a regional and local scale, has been found by surfac e 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 total 720 ha (17 80 acres) in co ntiguous 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 pers on 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 accept responsibility for the a dequacy 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 th e 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.