International Cobalt Announces A Non Brokered Private Placement
January 16th, 2018, Vancouver, British Columbia, Canada: International Cobalt Corp. (the “Company” or “International Cobalt”) is pleased to announce a non-brokered private placement of up to 40,000,000 units of the Company at a price of $0.25 per unit (the “Units”) for gross proceeds of up to $10,000,000 (the “Offering”). Each Unit will consist of one (1) common share (the “Common Share”) and one half (1/2) share purchase warrant (the “Warrant”). Each full Warrant will entitle the holder thereof to purchase one (1) additional common share for a period of twenty four (24) months from closing of the Offering at a price of CDN$0.40 per Common Share.
Proceeds from the Offering will be used on exploration of the Company’s Blackbird project located in centralIdaho and for general corporate purposes.
“We are very pleased that a large fund with a variety of interests including resources has committed to the lion’s share of the placement.”
In connection with the Offering, the Company may pay a finder’s fee pursuant to the policies of the CSE.
On behalf of:
INTERNATIONAL COBALT CORP.
Timothy Johnson, President
This release includes certain statements that may be deemed to be “forward-looking statements” within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. All statements in this release, other than statements of historical facts, that address future production, reserve potential, exploration and development activities and events or developments that the Company expects, are forward-looking statements. Although management believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance, and actual results or developments may differ materially from those in the forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include market prices, exploration and development successes, continued availability of capital and financing, and general economic, market or business conditions. Please see our public filings at www.sedar.com for further information.