TORONTO, ON --(Marketwired - July 07, 2017) - Cobalt 27 Capital Corp. (TSX VENTURE: KBLT) (the "Company" or "Cobalt 27") announces the closing of five Royalty Agreements whereby the Company acquired seven net smelter return ("NSR") royalties. These NSR's are those that were disclosed in the Company's final prospectus filed in conjunction with the Company's recent offering:
- Royalty Agreements with New Found Gold Corp. (formerly Palisade Resources Corp.) for the acquisition of a 2% NSR royalty over cobalt which may be produced from each of the Triangle, Professor/Waldman and Rusty Lake properties in Ontario;
- Royalty Agreement with Golden Ridge Resources Ltd. for the acquisition of a 2% NSR royalty over cobalt which may be produced from the North Canol properties in Yukon; and
- Royalty Agreement with each of Michael Blady, Dev Maharaj and Chris Paul for the acquisition of a 2% NSR royalty over cobalt which may be produced from the Sunset property in British Columbia.
Under the terms of the Royalty Agreements, the Company issued an aggregate of 94,445 common shares at a price of $9.00 per share. The shares will be placed in escrow with legal counsel and will be released from escrow once the NSR royalties are fully registered against each applicable property. In addition, the shares are subject to a statutory hold period of four months and one day from the date of issuance.
About Cobalt 27 Capital Corp.
Cobalt 27 Capital Corp. is a minerals company that offers pure-play exposure to cobalt, an integral element in key technologies of the electric vehicle and battery energy storage markets. The Company intends to acquire and hold physical cobalt, as well as manage and grow a cobalt-focused portfolio of streams, royalties and direct interests in mineral properties containing cobalt.
For further information contact the Company at 416.504.3978 Ext 226 and please visit Cobalt 27's website at www.co27.com.
