Pacific Rim Cobalt Comments on Recent Market Activity
VANCOUVER, British Columbia, June 19, 2018 (GLOBE NEWSWIRE) -- Pacific Rim Cobalt Corp. (CSE:BOLT) (FRANKFURT:NXFE) (OTCQB:PCRCF) (the “Company” or “Pacific Rim Cobalt”), wishes to make the following statements regarding recent market activity concerning its common shares (the “Common Shares”) traded on the OTCQB marketplace.
The Company became aware of certain promotional activity on its securities on June 13, 2018 when it received correspondence from OTC Markets. The Company has no knowledge of any promotional activity other than its understanding that there appears to have been promotional emails describing the prospects of its business and the investment opportunity related to its securities. Although the Company has no way of directly correlating such promotions to their impact on its securities, the effect of this on the Company’s securities may have resulted in an increase in trading volume and an increase in share price. However, it should also be noted that during the timeframe of such increases, the Company had issued press releases announcing the undertaking of a processing options study (February 26), advancement of its 2018 work program (March 27), commencement of a drill program (April 24) and commencement of a topographical study (June 11), and the Company believes these announcements also likely contributed to such increases.
The Company routinely responds to inquiries from shareholders, potential investors, and investment analysts, and generates its own marketing materials. However, to the Company’s knowledge, neither the Company, its officers, directors, any controlling shareholders, or any third party service providers have, directly, or indirectly, authorized or been involved in any way (including payment to a third party) with the creation or distribution of promotional materials that make any exaggerated or misleading claims about the Company or its securities.
Since June 1, 2017, the Company has engaged the following third-party providers of investor relations, public relations, marketing and other related services: Full Service Media Inc., One22 Media, LLC, Native Ads Inc., Public Eye Consulting Busche and BlackX Management GMBH. The Company provided factual information and materials to such third-party providers and had limited editorial control over content produced.
Upon inquiry of management, directors, control persons and third party service providers, during the past 90 days, Steven Vanry, Chief Financial Officer of the Company, purchased an aggregate of 15,000 common shares of the Company, Sean Bromley, Director of the Company purchased an aggregate 78,750 common shares and exercised 18,750 common share purchase warrants of the Company, and Ranjeet Sunder, President and Chief Executive Officer of the Company, purchased an aggregate of 186,500 common shares of the Company. The Company is unaware of any such persons having executed any sales transactions during such time period. Such transactions were in accordance with the Company's insider trading policy and were reported with the System for Electronic Disclosure (www.SEDI.ca).
The Company has not issued any convertible debt or equity instruments that allow conversion to equity securities at prices constituting a discount to the current market rate at the time of issuance.
About Pacific Rim Cobalt
Pacific Rim Cobalt Corp. is a Canadian publicly listed company currently focused on the development of cobalt projects within Indonesia. Its TNM cobalt project encompasses cobalt and nickel mineralization as well as excellent infrastructure for year-round development activities. The Company believes cobalt will be the next dominant investment trend related to the critical components of lithium-ion batteries. Cobalt is currently in a global supply deficit, has a vulnerable supply chain, and is part of an emerging sector with extraordinary potential. Pacific Rim believes that the quality of our assets and our proximity to markets give us the opportunity to be a leader in the cobalt development space.
Pacific Rim Cobalt Corp.
Ranjeet Sundher – President and CEO
Steve Vanry – CFO & Director
Sean Bromley – Director & Investor Contact
Neither the Canadian Securities Exchange nor the Investment Industry Regulatory Organization of Canada accepts responsibility for the adequacy or accuracy of this release.
Notice Regarding Forward-Looking Statements
Statements in this news release that are forward-looking statements are subject to various risks and uncertainties concerning the specific factors disclosed here and elsewhere in both Pacific Rim Cobalt’s periodic filings with Canadian securities regulators. When used in this news release, words such as “will”, “plan”, “estimate”, “expect”, “intend”, “potential”, “should,” and similar expressions, are forward-looking statements. Information provided in this document is necessarily summarized and may not contain all available material information. Forward-looking statements include, without limitation, statements regarding future oriented events and other statements that are not facts. Forward-looking statements are based on a number of assumptions and estimates that, while considered reasonable by management based on the business and markets in which Pacific Rim Cobalt operates, are inherently subject to significant operational, economic and competitive uncertainties and contingencies. Such forward-looking statements should therefore be construed in light of such factors. Although Pacific Rim Cobalt has attempted to identify important factors that could cause actual results, performance or achievements to differ materially from those contained in the forward-looking statements, there can be other factors that cause results, performance or achievements not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate or that management’s expectations or estimates of future developments, circumstances or results will materialize. Accordingly, readers should not place undue reliance on forward-looking statements. The forward-looking statements in this news release are made as of the date of this news release, and Pacific Rim Cobalt disclaims any intention or obligation to update or revise such information, except as required by applicable law, and Pacific Rim Cobalt does not assume any liability for disclosure relating to any other company herein.