Go Cobalt $500,000 Flow-Through Financing
Vancouver, British Columbia--(Newsfile Corp. - December 18, 2018) - Go Cobalt Mining Corp. (CSE: GOCO) ("Go Cobalt" and/or the "Company") is pleased to announce the following non-brokered flow-through financings:
1,111,111 "National" Units at $0.27 per National Unit, for gross proceeds of $300,000, each National Unit consisting of a flow-through common Share and a non-flow-through share purchase Warrant, with every two (2) Warrants entitling the holder to acquire a Warrant Share of the Company at a price of $0.40 per Warrant Share for a period of two (2) years from the date of Closing of the Flow-Through Financing.; and
666,666 Quebec Units at $0.30 per Quebec Unit, for gross proceeds of $200,000, each Quebec Unit consisting of a flow-through Share and a non-flow-through Warrant, with every two (2) Warrants entitling the holder to acquire a Warrant Share at a price of $0.40 per Warrant Share for a period of two (2) years from the Closing of the Flow-Through Financing.
The gross proceeds from the sale of flow-through shares will be spent on exploration that will qualify as Canadian exploration expenses (CEE) and flow-through mining expenditures for purposes of the Income Tax Act (Canada), including a minimum of $200,000 in Quebec which is earmarked for the Company's recently acquired Barachois Vanadium Property. There are finders' fees payable in connection with the Flow-Through Financings.
About Go Cobalt Mining Corp.
Go Cobalt is a Vancouver based mining exploration company. We develop exciting and relevant energy metal projects to help meet demand for a battery powered future.
For further information, please contact:
Scott Sheldon, President
This press release may include "forward-looking information" (as that term is defined by Canadian securities legislation), concerning the Company's business. Forward-looking information is based on certain key expectations and assumptions made by the Company's management, including future plans for the exploration and development of its mineral properties. Although the Company believes that such expectations and assumptions are reasonable, investors should not rely unduly on such forward-looking information as the Company can give no assurance they will prove to be correct. Forward-looking statements in this press release are made as of the date of this press release. The Company disclaims any intent or obligation to publicly update any forward-looking information (whether as a result of new information, future events or results, or otherwise) other than as required by applicable securities laws.