VANCOUVER, BC (DECEMBER 6th 2013)...GLOBAL COBALT CORP. (TSXV:GCO) ("Global Cobalt" and/or the "Company") (TSXV:GCO) is pleased to announce that on December 4th a shareholder exercised an additional 1,500,000 warrants (the "Warrants") into shares of the Company's common stock at a price of $0.061 per common share. The Warrants, which had an expiration of September 19th, 2015 were issued by the Company as part of the unit private placement financing announced July 8th, 2013. The shares will become free trading on January 15th, 2014. Total proceeds from the early exercise of these Warrants resulted in gross proceeds of $93,000 to Global Cobalt.
The Company would also like to report that on December 6th Euro Pacific Canada exercised 90,909 Broker Warrants at a price of $0.11 per Common Share as part of the unit private placement that closed on July 26th, 2013. The exercise of these Broker Warrants resulted in gross proceeds of $9,999.99 to Global Cobalt.
The proceeds from the early exercise of the Warrants and the Broker Warrants will be used for general working capital purposes.
Global Cobalt Corporation is a Canada-based strategic metals company focused on the development of a new mining region in the Republic of Altai. Global Cobalt will build upon the success of the Altai Projects while aggressively expanding and exploring existing properties to meet the demand for cobalt and other strategic metals.
For Further Information:
Mr. Mitchell Smith, Corporate Development
Suite 1510-1050 West Pender Street
Vancouver, BC V6E 3T4
Tel: +1 (604) 688-4219
Fax: +1 (604) 688-4215
Email: [email protected]
TSXV:GCO; FRA:3P0; CUSIP:37890F
Cautionary Statement on Forward-Looking Information: The statements made in this News Release may contain certain forward-looking statements. Actual events or results may differ from the Company's expectations. Certain risk factors may also affect the actual results achieved by the Company.
This news release shall not constitute an offer to sell or the solicitation of any offer to buy, nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful. The shares offered will not be and have not been registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the U.S. Securities Act and applicable state securities laws.
Neither 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.