Cobalt Power Group Successfully Closes Non-Brokered Private Placement of 5,000,000 Flow-Through Shares
Cobalt Power Group Successfully Closes Non-Brokered Private Placement of
5,000,000 Flow-Through Shares
TSX.V: CPO
VANCOUVER, Oct. 20, 2017 /CNW/ - Cobalt Power Group Inc. (the "Company") (TSX.V: CPO) is
pleased to announce that it has closed its fully subscribed for non-brokered flow-through private
placement announced on October 12, 2017 for gross flow-through proceeds raised in the placement of
CDN $800,000.
The non-brokered flow-through private placement closed on October 19, 2017 and consisted of the
placement of 5,000,000 flow-through shares at a price of $0.16 per flow-through share.
As compensation for the placement of the units, Cobalt Power paid cash finder's fees of $33,000
calculated at 6% of the amount placed by two (2) finders. In addition, the Company issued to eligible
finders 206,250 Broker Warrants also calculated at 6% of the flow-through shares placed by the eligible
finders. Each Broker's Warrant is exercisable at price of $0.16 to purchase one additional common share
of the Company for a period of two (2) years 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 month
hold period expiring February 20, 2018.
The proceeds of the Offering will be used by the Issuer for exploration of present and future Canadian
cobalt mineral 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.
On behalf of the Board of Directors
Dr. Andreas Rompel, President and CEO
Cobalt Power Group Inc.
www.cobaltpowergroup.com
We seek safe harbor.
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 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 Act") 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.
SOURCE Cobalt Power Group Inc
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%SEDAR: 00029608E
For further 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
CO: Cobalt Power Group Inc
CNW 06:00e 20-OCT-17