Cobalt 27 announces closing of Royalty Agreements
July 7, 2017
Toronto, Ontario – Cobalt 27 Capital Corp. (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.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies
of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward-Looking Information: This press release contains forward-looking statements that involve known and unknown risks and uncertainties, most of which are beyond the Company's control. Should one or more of the risks or uncertainties underlying these forward-looking statements materialize, or should assumptions underlying the forward-looking statements prove incorrect, actual results, performance or achievements could vary materially from those expressed or implied by the forward-looking statements. Accordingly, undue reliance should not be placed on these forward-looking statements. The forward-looking statements contained herein are made as of the date of this release and, other than as required by applicable securities laws, the Company does not assume any obligation to update or revise it to reflect new events or circumstances. The forward-looking statements contained in this release are expressly qualified by this cautionary statement.
No securities regulatory authority has either approved or disapproved of the contents of this press release. This press release is not for distribution, directly or indirectly, in or into the United States (including its territories and possessions, any state of the United States and the District of Columbia) or any other jurisdiction outside Canada. This press release does not constitute or form a part of any offer or solicitation to buy or sell any securities in the United States or any other jurisdiction outside of Canada. The securities offered pursuant to the Prospectus have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”), or the securities laws of any state of the United States and may not be offered or sold within the United States or to a U.S. person absent registration or pursuant to an available exemption from the registration requirements of the U.S. Securities Act and applicable state securities laws. There will be no public offering of securities in the United States.