CSE New Listing - Pacific Rim Cobalt Commences Trading on the Canadian Securities Exchange - Video News Alert on InvestmentPitch.com
Vancouver, British Columbia--(Newsfile Corp. - October 25, 2017) - Pacific Rim Cobalt (CSE: BOLT) is the latest new listing on the Canadian Securities Exchange, trading under the symbol "BOLT", having previously traded as Rhys Resources (TSXV: RYS) on the TSX Venture Exchange.
InvestmentPitch Media has produced a "video news alert" which provides a brief overview of the company. If this link is not enabled, please visit www.InvestmentPitch.com and enter "Pacific Rim" in the search box.
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The company has acquired the TNM Cobalt Project in Indonesia, through the issuance of 11 million shares. The advanced stage, 5,000 hectare property, hosts a historical estimate of 38 million tonnes grading 1.25% nickel, and 0.11% cobalt, at a 0.8% nickel cut-off grade, contained in 5 coastal deposits.
Ranjeet Sundher, President and CEO, stated: "We are pleased to have achieved several important milestones today, which give Pacific Rim Cobalt an enviable and unique opportunity to develop into a "pure-play" cobalt company, with a project strategically located in southeast Asia. Strong finances and a seasoned management team have helped propel Pacific Rim Cobalt to the leading edge of the global electric vehicle "EV" revolution. Cobalt is a strategic metal in the lithium-ion (Li-on) battery which is used to power today's EV's and is in a worldwide supply deficit."
The company closed an over-subscribed, non-brokered private placement, raising gross proceeds of $4,473,281 from the issuance of 12,780,804 units priced at $0.35 per unit. Each unit consisted of 1 share and one-half a warrant, with each full warrant exercisable at $0.50 for 24 months, subject to an acceleration clause.
Prior to the closing of the acquisition and the financing, the Rhys shares were consolidated on the basis of one new share for every four old shares.
The shares are currently trading at $0.70, and with 29.6 million shares outstanding, the company is capitalized at $20.7 million.
Investor relations is handled by Sean Bromley of The Parmar Group, who can be reached at 778-985-8934 or email email@example.com.
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