VANCOUVER, BC (DECEMBER 9th 2013)...GLOBAL COBALT CORP. (TSXV:GCO) ("Global Cobalt" and/or the "Company") (TSXV:GCO) announces, subject to TSX Venture Exchange (the "Exchange") acceptance, that the Corporation's Board of Directors has approved a grant of 4,555,000 options to acquire shares of the Corporation in accordance with the terms and conditions of the Corporation's Stock Option Plan.
Independent Directors of the Corporation were granted a total of 2,575,000 options as compensation for their services. Officers and management were granted a total of 1,980,000 options as incentive compensation.
4,155,000 of the options granted to Independent Directors, Officers and Management have a term of five years and may be exercised at a price of $0.19 per share, a premium to the 20-day moving average.
400,000 of the options, granted to an Independent Director, have a term of five years and may be exercised at the last market close price of $0.24 per share.
Subject to acceptance by the Exchange, this grant of options will result in a total of 5,265,000 options outstanding.
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.