Junior Mining Network
  • Dashboard
  • Newsroom
  • Featured Miners
  • Investor Clips
  • Heat Map
  • Market Data
  • Mining Topics
  • Watch List
Junior Mining Network
Golden Minerals

Pacific Rim Cobalt Closes Non-Brokered Financing

  • Financing

CSE: BOLT
www.pacificrimcobalt.com

Mr. Ranjeet Sundher reports:

NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES. ANY
FAILURE TO COMPLY WITH THIS RESTRICTION MAY CONSTITUTE A VIOLATION OF U.S. SECURITIES LAWS.

VANCOUVER, British Columbia, Feb. 12, 2019 (GLOBE NEWSWIRE) -- Pacific Rim Cobalt Corp. (the “Company” or “Pacific Rim Cobalt”) (CSE: BOLT) (FRANKFURT: NXFE) is pleased to announce that the non-brokered private placement previously announced on February 7, 2019 (the “Offering”) has now closed. Under the Offering, the Company issued 10,541,667 units (each a “Unit”) at a price of $0.12 per Unit for gross proceeds of $1,265,000. Each Unit was comprised of one (1) common share in the capital of the Company (each a "Common Share") and one (1) transferable Common Share purchase warrant (each, a “Warrant”). Each Warrant entitles the holder to purchase one Common Share at price of $0.20 per Common Share until February 12, 2020, subject to accelerated expiry provisions. In the event the closing price of the Company’s Common Shares exceeds $0.30 per Common Share for a period of 10 consecutive trading days at any time, then at the Company’s election, the 12 month period within which the Warrants are exercisable will be reduced and the holders of the Warrants will be entitled to exercise their Warrants for a period of 30 days commencing on the day the Company provides the acceleration notice via press release or written notice to all Warrant holders (the “Acceleration Period”). Any outstanding Warrants not exercised during the Acceleration Period will expire on completion of the Acceleration Period.

In connection with the Offering, the Company paid a total of $25,928 in cash to eligible finders who introduced subscribers to the Offering.

All securities issued under the Private Placement, including securities issuable on exercise thereof, are subject to a hold period expiring June 13, 2019.

The Company intends to use the net proceeds from the Offering for drilling and exploration, metallurgy and processing testing, and general working capital purposes.

About Pacific Rim Cobalt

Pacific Rim Cobalt is a Canadian‐based exploration company focused on the acquisition and development of production grade cobalt and nickel deposits, key raw material inputs for the growing lithium‐ion battery industry. Visit https://pacificrimcobalt.com/ to find out more.

Pacific Rim Cobalt Corp.

Ranjeet Sundher – President and CEO
(604) 922-8272
This email address is being protected from spambots. You need JavaScript enabled to view it.

Steve Vanry – CFO & Director
(604) 922-8272
This email address is being protected from spambots. You need JavaScript enabled to view it.

Sean Bromley – Director & Investor Contact
(778) 985-8934
This email address is being protected from spambots. You need JavaScript enabled to view it.

Reader Advisory

This news release may include forward-looking information that is subject to risks and uncertainties. All statements herein, other than statements of historical fact, are to be considered forward-looking, including statements with respect to the completion of, and use of proceeds from, the Offering. Although the Company believes the expectations expressed in such forward-looking information are based on reasonable assumptions, such information is not a guarantee of future performance and actual results or developments may differ materially from those contained in forward-looking information. Information provided in this document is necessarily summarized and may not contain all available material information. 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. Factors that could cause actual results to differ materially from those in forward-looking information include, but are not limited to, fluctuations in market prices, success of the operations of the Company, continued availability of capital and financing and general economic, market or business conditions.  There can be no assurances that such information will prove accurate and, therefore, 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 the Company does not assume any obligation to update any forward-looking information except as required under the applicable securities laws.

Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.

MORE MINING NEWS

Barrick Gold Comments on Media Speculation Regarding Opportunity to Merge with Newmont Mining
Pan American Silver Completes Acquisition of Tahoe Resources
Great Bear Resources Drills Hinge Zone Extensions - Results Include New 42 m Wide Zone with Multiple Gold-Bearing Intercepts Including 31.60 g/t Gold Over 3.40 m at 157 m Depth
Kirkland Lake Gold Reports Record Earnings and Cash Flow in Q4 and Full-Year 2018
Wheaton Precious Metals Exceeds 2018 Production Forecast and Provides 2019 and 5-Year Guidance
TMAC Resources Reports Record Q4 Gold Production; 1,800 tpd Plant Throughput and 2,310 tpd Mine Production
McEwen Mining Reports 2018 Full Year and Q4 Results
Marathon Gold Completes Sale of Royalty to Franco-Nevada for Proceeds of $18 Million
Gold Standard’s Jasperoid Wash Emerging as 4th Large, Shallow Oxide Gold Deposit at Railroad-Pinion Project
Continental Gold Discovers a Third Broad Mineralized Zone at Buriticá With High-Grade Gold Drill Results Including 5.50 Metres @ 202.56 Grams per Tonne Gold Equivalent
Corvus Gold Expands Mother Lode Deposit to the East, West and at Depth Below Pit Bottom with Thick Oxide Mineralization to Depth
First Cobalt Adds to Strike Length at Iron Creek

GET DAILY NEWS FLOW

Sign Up To Receive All Morning
News To Your Email Inbox

Pacific Rim Cobalt

ADD TO WATCH LIST
Last Trade: C$0.17
Daily Volume: 0
February 08, 2019
Pacific Rim Cobalt Announces Non-Brokered Financing
January 08, 2019
Pacific Rim Cobalt Provides Update to Shareholders on 2018 Progress
September 25, 2018
Pacific Rim Cobalt Comments on Recent Market Activity
July 17, 2018
Pacific Rim Cobalt Engages Recovery Process Technology Partner for Metallurgical Studies
July 11, 2018
Pacific Rim Cobalt Signs Preliminary Offtake Agreement With China's Top Battery Materials Supplier, Beijing Easpring
July 05, 2018
Pacific Rim Cobalt Appoints SE Asia-based Executive G. B. Fielding to Board
June 26, 2018
Pacific Rim Cobalt Commences Drilling at Indonesian Cobalt-Nickel Project
June 19, 2018
Pacific Rim Cobalt Comments on Recent Market Activity
June 12, 2018
Pacific Rim Cobalt Commences Topographical Survey on Cyclops Cobalt-Nickel Project in Papua province of Indonesia
April 25, 2018
Pacific Rim Cobalt to Commence Extensive Drill Program
March 27, 2018
Pacific Rim Cobalt Advances 2018 Work Program
March 12, 2018
Pacific Rim Cobalt Commences 2018 Work Program
LOAD MORE NEWS
LOAD MORE NEWS

West Kirkland Mining

West Kirkland Mining

West Kirkland Mining is developing the advanced-stage Hasbrouck project in Nevada. The project is fully permitted for Phase I construction and operation and host to 762,000 ounces of gold reserves. The 2016 Feasibility Study outlined an open-pit, heap leach mining scenario that calculated a robust 43% IRR. Recent district exploration has also uncovered exciting new targets that will be drilled in 2019, including the Gold Mountain zone, where trenching assayed an average of 4.34 g/t gold across 160 feet... VIEW PROFILE

© 2019 Junior Mining Network. All Rights Reserved.

  • Privacy Policy
  • Disclaimer
  • RSS
  • Contact