/NOT FOR DISSEMINATION IN THE UNITED STATES OR FOR
DISTRIBUTION TO U.S. NEWSWIRE SERVICES/
TORONTO, Oct. 22, 2021 /CNW/ - First Cobalt Corp.
(TSXV: FCC) (the "Company") is pleased to announce that it
has completed the sale of additional Secured Convertible
Notes, for an aggregate amount of US$7.5
million, as part of the Company's recently completed
offering of 6.95% senior secured convertible notes due December 1, 2026 (the "Notes").
Pursuant to subscription agreements entered into between the
Company and investors on August 23,
2021, each investor had the right to subscribe for
additional Notes pro rata for an aggregate additional
principal amount of up to US$7.5
million. The offering of Notes was led by Cantor Fitzgerald
& Co., as sole placement agent. Cantor Fitzgerald & Co.
received a placement agent fee equal of 4% of the gross proceeds of
the additional Notes sold.
With the exercise of the option, First Cobalt is adequately
financed for the recommissioning and expansion of its
hydrometallurgical refinery in Ontario, and on track to becoming North America's only producer of sustainable
battery-grade cobalt sulfate by Q4'2022.
The securities offered have not been, and will not be,
registered under the United States Securities Act of 1933, as
amended (the "U.S. Securities Act"), or any applicable U.S.
state securities laws, and may not be offered or sold in
the United States absent
registration or an available exemption from the registration
requirement of the U.S. Securities Act and applicable U.S. state
securities laws. This press release shall not constitute an offer
to sell or the solicitation of an offer to buy, nor shall there be
any sale of the securities in any jurisdiction in which such offer,
solicitation or sale would be unlawful. This press release does not
constitute an offer to sell, or a solicitation of an offer to buy,
any securities, nor shall there be any sale of securities in any
jurisdiction in which such offer or sale would be unlawful.
About First Cobalt
First Cobalt's mission is to be a producer of diversified
high-quality and sustainable battery materials for the North
American battery supply chain. The Company owns a permitted
hydrometallurgical refinery in Ontario,
Canada, a critical asset in the development and
manufacturing of batteries for electric vehicles. First Cobalt also
owns the Iron Creek cobalt-copper project in Idaho, USA as well as several significant
cobalt and silver properties in the Canadian Cobalt Camp.
On behalf of First Cobalt Corp.
Trent Mell
President & Chief Executive Officer
Neither TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in policies of the TSX Venture
Exchange) accepts responsibility for the adequacy or accuracy
of this release.
Cautionary Note Regarding Forward-Looking
Statements
This news release may contain forward-looking statements and
forward-looking information (together, "forward- looking
statements") within the meaning of applicable securities laws and
the United States Private Securities Litigation Reform Act of 1995.
All statements, other than statements of historical facts, are
forward-looking statements. Specifically, statements with respect
to the use of proceeds of the exercise of the investor option, the
development of the Refinery, and other matters ancillary or
incidental to the foregoing are forward looking statements.
Generally, forward-looking statements can be identified by the use
of terminology such as "plans", "expects', "estimates", "intends",
"anticipates", "believes" or variations of such words, or
statements that certain actions, events or results "may", "could",
"would", "might", "occur" or "be achieved". Forward-looking
statements involve risks, uncertainties and other factors that
could cause actual results, performance and opportunities to differ
materially from those implied by such forward-looking statements.
Factors that could cause actual results to differ materially from
these forward-looking statements are set forth in the management
discussion and analysis and other disclosures of risk factors for
the Company, filed on SEDAR at www.sedar.com, and are included in
the Base Shelf Prospectus and the Prospectus Supplement. Although
the Company believes that the information and assumptions used in
preparing the forward-looking statements are reasonable, undue
reliance should not be placed on these statements, which only apply
as of the date of this news release, and no assurance can be given
that such events will occur in the disclosed times frames or at
all. Except where required by applicable law, the Company disclaims
any intention or obligation to update or revise any forward-looking
statement, whether as a result of new information, future events or
otherwise.
SOURCE First Cobalt Corp.
