Recent News

> Cobalt Blockchain Completes $1M  Second Tranche of Private Placement, Settles $1.78M of Debt, Appoints New Director and Sets Annual Meeting

TORONTO, ONTARIO (September 21, 2020) – Cobalt Blockchain Inc. (“COBC” or the "Company") (TSX VENTURE:COBC; OTC Pink:COBCF)

announced today that it has completed a second tranche of its previously announced private placement of up to $4.5 million of units (“Units”), raising gross proceeds of $1,005,000 (the “Second Tranche”)...

The Company also announced that further to its news release on August 26, 2020,  additional debt settlements have now been concluded. Together with these latest settlements, total debt of $1,780,052 has been settled by cash payments of $182,381 to related and third party creditors, and, subject to regulatory approval, to the issuance of an aggregate of 150,000 common shares at a deemed price of $0.065 per share to two arm’s length creditors... 

Subject to regulatory approval, John F. O’Donnell, BA, LLB has been appointed as a member of the Board of Directors of the Company, filling the vacancy arising from the resignation of Mr. H.J. Blake, QC. Mr. O’Donnell is a businessman and lawyer based in Toronto, Canada, and is primarily involved in the fields of corporate finance and securities law... 

The Company also announced that it will be holding an annual and special meeting of shareholders (“Meeting”) in Toronto on Friday, November 27, 2020. Due to COVID-19 and related health risks and restrictions on public gatherings, shareholders will be encouraged to not attend the Meeting in person and to vote by proxy in advance. A facility will be established for shareholders to dial in and listen to the Meeting proceedings by phone...

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> Cobalt Blockchain Completes $1M First Tranche of Private Placement and Announces Debt Dettlement

TORONTO, ONTARIO (August 26, 2020) – Cobalt Blockchain Inc. (“COBC” or the "Company") (TSX VENTURE:COBC; OTC Pink:COBCF) announced today that it has completed a first tranche of its previously announced private placement of up to $4.5 million of units (“Units”), raising gross proceeds of $1,000,000 (the “First Tranche”).

 

The First Tranche was completed on a brokered basis with IBK Capital Corp. acting as Agent (the “Agent”). In the first tranche, the Company issued and sold 20,000,000 Units at a price of $0.05 per Unit, with each Unit consisting of one common share of the Company and one common share purchase warrant (a “Warrant”). Each Warrant entitles the holder to acquire one additional common share of the Company at a price of $0.20 until August 25, 2022. The Company is pursuing completion of the balance of the financing, which may be completed on a brokered or not brokered basis and in one or more tranches. Insiders of the Company may participate in some or all of further tranche...

In connection with the Company’s recent restructuring of its board and management team announced on August 17, 2020, it has also entered into debt settlement agreements with certain directors and officers and entities related to them for the settlement of accrued and unpaid fees owing to them in the aggregate amount of $1,480,983.64, by cash payments totalling $144,128. The debt settlements are conditional upon the reimbursement in full of amounts owed for loans, advances or payments made to or on behalf of the Company by such parties totalling $279,024. Completion of the the debt settlements, in conjunction with the completion of the First Tranche of the private placement, will allow the Company to significantly improve its balance sheet and working capital position...

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> Cobalt Blockchain Announces Changes to Board and Management Team; Reaffirms Focus on Ethical Cobalt

TORONTO, ONTARIO (August 17, 2020) – Cobalt Blockchain Inc. (TSXV: COBC) ("COBC" or the "Company") is pleased to announce a restructuring, effective immediately, of its board of directors and management team, reaffirming its focus on bringing ethically-sourced cobalt to market...

COBC welcomes Peter Copetti who will join Peter Hooper and independent directors Michael Cachia, Patricia Mannard, and Samuel Peralta, on the board of directors. Mr. Copetti takes on the roles of Executive Chairman of the Board and Chief Executive Officer (CEO). Mr. Copetti has extensive experience in capital markets and corporate leadership, notably in restructuring, mergers and acquisition. Most recently, Mr. Copetti served as Executive Co-Chairman of the Board and interim CEO of POET Technologies, which transformed from a strategic gallium play, into a gallium arsenide photovoltaic company, and finally Mr. Copetti identified and was a key player in POET's acquisition of DenseLight and BB Photonics...

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> Cobalt Blockchain Announces Increase in Private Placement Financing

TORONTO, ONTARIO (August 14, 2020) – Cobalt Blockchain Inc. (TSXV: COBC) (OTC Pink: COBCF) ("COBC" or the "Company") is pleased to announce that further to its press release dated April 17, 2020, it has increased the size of its private placement financing ("The Offering") to a maximum of 90,000,000 Units at a price of $0.05 per Unit for a gross proceeds of up to $4,500,000. The initial $1,000,000 tranche is expected to be completed within the next several business days subject to final acceptance of the TSX Venture Exchange.

Each Unit issued pursuant to the Offering consists of one common share in the capital of the Company (a "Common Share") and one Common Share purchase warrant (a "Warrant"). Each Warrant entitles the holder thereof to purchase one additional Common Share at a price of $0.20 for a period of two years from the date of its issuance. The Offering may be brokered in whole or in part.

The Company intends to use the net proceeds of the Offering to fund for working capital and general corporate purposes....

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> Cobalt Blockchain Announcement Regarding Private Placements

TORONTO, ONTARIO (February 10, 2020) – Cobalt Blockchain Inc. ("COBC" or the "Company") (TSX-V: COBC; OTCQB: COBCF) announces that it is working towards completing the previously announced private placement offering (the "Offering") through the issuance of units ("Units") at a price of $0.05 per Unit raising gross proceeds of $1,000,000, subject only to final approval of the TSX Venture Exchange. The placement is unbrokered.

Each Unit to be issued pursuant to the Offering will consist of one common share in the capital of the Company (a "Common Share") and one Common Share purchase warrant (a "Warrant"). Each Warrant will entitle the holder thereof to purchase one additional Common Share at a price of $0.20 for a period of two years from the date of its issuance.

The Company intends to use the net proceeds of the Offering to fund i) commissioning of the hydroxide plant in Democratic Republic of Congo and ii) for working capital and general corporate purposes....

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> Cobalt Blockchain Announces Private Placement

TORONTO, ONTARIO (October 10, 2019) – Cobalt Blockchain Inc. (the "Company" or “COBC”) (TSXV:COBC; OTCQB: COBCF) is pleased to announce that it is proceeding with a private placement offering (the "Offering") through the issuance of units ("Units") at a price of $0.05 per Unit for a gross proceeds of up to $3,000,000.

Each Unit to be issued pursuant to the Offering consists of one common share in the capital of the Company (a "Common Share") and one Common Share purchase warrant (a "Warrant"). Each Warrant entitles the holder thereof to purchase one additional Common Share at a price of $0.20 for a period of two years from the date of its issuance....

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> Cobalt Blockchain Completes Private Placement and Shares for Debt Settlement

TORONTO, ONTARIO (March 19, 2019) – Cobalt Blockchain Inc. ("COBC" or the "Company") (TSX-V: COBC; OTCQB: COBCF) is pleased to announce that it has closed its previously announced private placement offering (the "Offering") through the issuance (on a non-brokered basis) of 4,526,734 units ("Units") at a price of $0.15 per Unit for a gross proceeds of $679,010.10.

Each Unit issued pursuant to the Offering consisted of one common share in the capital of the Company (a "Common Share") and one half of one Common Share purchase warrant (each whole warrant, a "Warrant"). Each Warrant entitles the holder thereof to purchase one additional Common Share at a price of $0.20 for a period of five years from their respective dates of issuance....

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> Cobalt Blockchain Announces Closing of First Tranche of Private Placement for $1.5 Million

TORONTO, ONTARIO (February 1, 2019) – Cobalt Blockchain Inc. (the "Company" or “COBC”) (TSXV:COBC; OTCQB: COBCF) is pleased to announce announced that it has today closed the first tranche of its previously announced private placement offering (the "Offering") through the issuance (on a non-brokered basis) of 4,333,333 units ("Units") at a price of $0.15 per Unit for a gross proceeds of $650,000.

 

Each Unit issued pursuant to the Offering consists of one common share in the capital of the Company (a "Common Share") and one half of one Common Share purchase warrant (each whole warrant, a "Warrant"). Each Warrant entitles the holder thereof to purchase one additional Common Share at a price of $0.20 for a period of five years...

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> Cobalt Blockchain Announces Private Placement and Debt Settlement

TORONTO, ONTARIO (January 31, 2019) – Cobalt Blockchain Inc. (the "Company" or “COBC”) (TSXV:COBC) is pleased to announce that it has engaged IBK Capital Corp. ("IBK" or the "Agent"), to sell, by way of a private placement on a best efforts basis, units (the "Units") of the Company at a price of $0.15 per Unit (the "Issue Price") for gross proceeds of $1,500,000 (the "Offering").

Each Unit issued pursuant to the Offering will consist of one common share in the capital of the Company (a "Common Share") and one half of one Common Share purchase warrant (each whole warrant, a "Warrant"). Each Warrant entitles the holder thereof to purchase one additional Common Share at a price of $0.20 for a period of five years.

The Company intends to use the net proceeds of the Offering to fund i) exploration work on its joint venture properties, ii) establishment of assay lab facilities and regional offices, and iii) for working capital and general corporate purposes...

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> Cobalt Blockchain Provides Corporate Update on Joint Venture Copper / Cobalt Properties, Commissioning Study on Cobalt Hydroxide Plant and Trading on The OTCQB Venture Market

TORONTO, ONTARIO (November 9, 2018) – Cobalt Blockchain Inc. (the "Company" or “COBC”) (TSXV:COBC) is pleased to provide a corporate update related to progress on the Company's cobalt project in the Democratic Republic of the Congo ("DRC") including:

  • Status of the DRC copper / cobalt joint venture properties;

  • Commissioning study on the DRC cobalt hydroxide plant;

  • Renewal of offer for US$10M credit facility;

  • Trading on the OTCQB Venture Market; and,

  • Conferences and events... 

> Cobalt Blockchain Inc. Terminates LOI with Noble Mineral Exploration Ltd.

TORONTO, ONTARIO (September 7, 2018) – Cobalt Blockchain Inc. (the "Company" or “COBC”) (TSXV:COBC) announces that it has terminated its Letter of Intent dated September 29, 2017 with Noble Mineral Exploration Ltd. ("Noble") with respect to Noble's Dargavel Township property (see October 2, 2017 Press Release).

On August 27, 2018 Noble announced that it would be unable to provide geological information on its property in the near future. Accordingly, COBC terminated the Letter of Intent...

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> Cobalt Blockchain and Traxys Announce Cobalt Hydroxide Plant Joint Venture, Cobalt Off-Take Agreement and US$30 Million Trade Finance Facility

TORONTO, ONTARIO (August 7, 2018) – Cobalt Blockchain Inc. (the "Company" or “COBC”) (TSXV:COBC) and Traxys Europe S.A. ("Traxys") are pleased to announce that they have signed a letter of intent ("LOI") on August 6, 2018 to establish a commercial partnership with respect to the Traxys-owned cobalt hydroxide plant (the "Plant") in Lubumbashi, Democratic Republic of the Congo ("DRC"). Highlights of the LOI include:

  • A 10-year joint venture agreement with respect to leasing and operating the Plant (the "JV/Lease Agreement"); 

  • A US$30 million trade finance facility to be made available by Traxys to COBC (the "Trade Facility") with regard to certified, ethically-sourced cobalt concentrates traded by COBC; and

  • A 10-year off-take agreement covering 100% of the cobalt concentrates produced by COBC at the Plant or purchased with the proceeds of the Trade Facility (the "Off-Take Agreement")...

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> Cobalt Blockchain and DLT Labs form Joint Venture to Release Mintrax™ Blockchain Platform for Mineral Traceability

TORONTO, ONTARIO (August 2, 2018) – Cobalt Blockchain Inc. (the "Company" or “COBC”) (TSXV:COBC) and DLT Labs Inc. (“DLT”) are pleased to announce that they have finalized their joint venture (“JV”) agreement to commercialize Mintrax™, a fully-functional blockchain platform providing secure and transparent methods for tracking the provenance of metals and minerals through the entire mining supply chain from source to end-user.

Mintrax is the first enterprise-grade blockchain platform built from the ground up to ensure compliance with the Organisation for Economic Co-operation and Development (“OECD”) due diligence framework for the provenance of ethically-sourced minerals. The transactional flow of Mintrax is based on COBC’s operational experience trading certified-conflict-free metals in the Democratic Republic of the Congo (“DRC”) and work with due diligence program design firm BetterChain, as well as DLT’s deep-bench supply chain and logistics experience with IBM’s Hyperledger Fabric blockchain...

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> Cobalt Blockchain Extends Private Placement

TORONTO, ONTARIO (August 1, 2018) – Cobalt Blockchain Inc. ("COBC" or the "Company") (TSXV:COBC) is extending its previously announced brokered equity private placement of up to 12 million common shares at a price of 25 cents per common share, for gross proceeds of up to $3-million.  Use of proceeds from the private placement include establishment of cobalt trading operations, initial cobalt concentrate purchases, mineral processing equipment, transaction costs, costs associated with technology platform development and general working capital...

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> Cobalt Blockchain Announces Approval of DRC Cobalt and Copper License, Expects to Commence Minerals Trading

 

TORONTO, ONTARIO (July 25, 2018) – Cobalt Blockchain Inc. ("COBC" or the "Company") (TSXV:COBC) is pleased to announce that it has received final approval for its application for a cobalt and copper license in the Democratic Republic of the Congo ("DRC").

The federal Ministry of Mines today certified the license application, renewable after two years, based on the Company's submissions and the provincial approval from DRC authorities in Lualaba and Haut-Katanga provinces.

With this new export trading license, COBC is now able to export cobalt and copper from the DRC in addition to tin, tantalum, and tungsten under its existing license.  The Company is now fully licensed to establish regional buying depots, process minerals in-country, and ultimately export metal concentrates to international buyers...

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> Cobalt Blockchain Announces US$10M Trade Finance Facility Letter of Intent with United Bank for Africa

TORONTO, ONTARIO (June 14, 2018) – Cobalt Blockchain Inc. ("COBC" or the "Company") (TSXV:COBC) is pleased to announce that it has signed a letter of intent for a US$10 million revolving trade finance facility with United Bank for Africa Plc ("UBA"), a leading pan-African financial services group with operations in 20 African countries and offices in three global financial centers of London, Paris and New York.

COBC will be using the trade finance facility for the purposes of purchasing cobalt concentrates once the terms of have been finalized and a definitive agreement is in place.  The initial funds will be directed towards the purchase of cobalt concentrates (1% minimum, 3-4% average cobalt) from a key mining cooperative in the Democratic Republic of the Congo (DRC).

This supply agreement, previously announced on April 6, 2018, guarantees COBC a supply of cobalt concentrate of 40,000 tonnes per annum...

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> Cobalt Blockchain Announces Private Placement and Provides Corporate Update

TORONTO, ONTARIO (May 17, 2018) – Cobalt Blockchain Inc. ("COBC" or the "Company") (TSXV:COBC) is pleased to provide a corporate update related to progress on expanding its existing commodity trading business to include certified, ethically-sourced cobalt from the Democratic Republic of the Congo ("DRC")...

The Company has engaged IBK Capital Corp. ("IBK Capital") to complete a private placement of up to 12,000,000 common shares at a price of $0.25 per common share (the "Private Placement") for gross proceeds of up to $3,000,000. Use of proceeds from the Private Placement include establishment of cobalt trading operations, initial cobalt concentrate purchases, mineral processing equipment, transaction costs, costs associated with technology platform development, and general working capital...

The Company has received approval from DRC provincial authorities in Lualaba and Haut-Katanga provinces for the necessary licensing required to establish trading depots, purchase copper and cobalt concentrates, and export to international buyers. All associated licensing fees and studies have now been submitted to the federal Ministry of Mines, with final ratification expected shortly...

COBC has begun initial arrangements to set up its cobalt trading facilities in the DRC, which will include a 1,000 square metre depot with storage, assay lab, clinic and office capabilities. The depot site will also incorporate perimeter fencing and security equipment. On completion of the trading depot, COBC will purchase its first cobalt concentrate from COMIKU as per the cobalt supply agreement announced on April 6, 2018. Under this supply agreement, and commencing in June 2018, COBC will be supplied with a minimum of 40,000 tonnes of cobalt concentrate per annum, with a minimum grade of 1% cobalt...

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> Cobalt Blockchain Updates on Management Team, Stock Options, Restricted Share Units, Belair African Metals Acquisition, and Corporate Presentation

TORONTO, ONTARIO (April 13, 2018) – Cobalt Blockchain Inc. ("COBC" or the "Company") (TSXV:COBC) today announced several updates, including confirmation of the management team, issuance of stock options under the Company's Stock Option Plan, issuance of restricted share units under the approved Restricted Share Unit Plan, final approval of and actions related to the acquisition of Belair African Metals SARL, and an updated corporate presentation.

The Board of Directors is pleased to confirm the appointment of the following officers to the management team of COBC:

  • Peter Hooper – Chief Executive Officer

  • Lance Hooper – President and Chief Operating Officer

  • Philip Gibbs, B.Compt, MBA, CMA - Chief Financial Officer

  • F. William (Bill) Nielsen, P.Geo – Vice-President Exploration / Qualified Person

  • H.J. (Jim) Blake, QC – Chairman of the Board & Corporate Secretary...

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> Cobalt Blockchain Announces Supply Agreement for Cobalt Concentrate from DRC Artisanal Mines Cooperative

TORONTO, ONTARIO (April 6, 2018) – Cobalt Blockchain Inc. ("COBC" or the "Company") (TSXV:COBC) announced today that it has successfully negotiated a supply agreement with one of the largest local mining cooperatives in the Lualaba province of the Democratic Republic of the Congo (DRC). 

Commencing in June 2018, COBC will be supplied with a minimum of 40,000 tonnes of cobalt concentrate per annum, with a minimum grade of 1% cobalt.

 

"This is a significant milestone in our strategy to generate near-term cash flow," noted Lance Hooper, COBC President & Chief Operating Officer. "Supply agreements with established mining cooperatives complement our plans for larger-scale, mechanised production activities on mineral concessions in our property portfolio"...

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> Mineral Supply Chain to be Transformed by Cobalt Blockchain and DLT Labs 

TORONTO, ONTARIO (April 3, 2018) – Cobalt Blockchain Inc. (the "Company" or “COBC”) (TSXV:COBC) and DLT Labs Inc. (“DLT”) are pleased to announce that they have signed a Letter of Intent to establish a joint venture to provide secure, traceable and transparent methods for tracking and certifying the provenance of metals and minerals, through the entire supply chain from source to end-user.

Leveraging the expertise of COBC, and DLT’s supply chain and logistics product DL Asset Track, the joint venture will develop and deploy a new enterprise-grade platform based on international blockchain standards. The new platform will be specifically designed for companies trading in base and precious minerals, including cobalt, gold, and diamonds. The initiative addresses the growing need for complete transparency in the movement of minerals and metals, especially where conflict-free certification is important. The new platform will be selectively piloted prior to being offered on a commercial basis, beginning with COBC’s recently-announced cobalt assets in the Democratic Republic of the Congo (“DRC”)...

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> Cobalt Blockchain Inc. Announces Definitive Joint Venture Agreements on Cobalt Projects in the DRC and Filing of Cobalt Trading and Export License

TORONTO, ONTARIO (March 22, 2018) – Cobalt Blockchain Inc. (the Company or COBC) (TSXV: PET transitioning to TSXV: COBC at the opening of business March 23, 2018) is pleased to announce that it has entered into two definitive joint venture agreements for cobalt / copper concessions in the Democratic Republic of the Congo (DRC) totalling over 48 square kilometers. The Company has also submitted an application to the DRC Ministry of Mines for a cobalt / copper trading and export license...


Cobalt Blockchain Inc. announces a 70% interest in Alpha Cobalt SAS, a joint venture between the Company and a private local partner.  The two contiguous concessions controlled by Alpha Cobalt SAS contain 48 carrés, totalling 40.8 square kilometers.  The properties are located about 50 kilometers to the east of Kolwezi and 10 kilometers from an operating mine at the Tenke Fungurume project, one of the world’s largest cobalt / copper deposits.      

 

The Company also announces an 80% interest in Cobalt Blockchain SAS, a joint venture between the Company and a private local partner. The two contiguous concessions controlled by Cobalt Blockchain SAS contain 9 carrés, totalling 7.6 square kilometers.  The properties are located about 50 kilometers from Lubumbashi in an area with active artisanal and small-scale cobalt / copper mining.  

 

Cobalt Blockchain Inc. is actively engaged in negotiations on several other cobalt / copper properties and aims to announce further acquisitions or joint ventures when definitive agreements are concluded.... 

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> Peat Resources Limited Announces Shareholder Vote to Change Name to Cobalt Blockchain Inc., and Other Results from its Annual and Special Meeting

TORONTO, ONTARIO (March 14, 2018) -- Peat Resources Limited (the "Company") (TSXV: PET) held its Annual and a Special Meeting of Shareholders on March 13, 2018 (the "Meeting") with the following results:

1. The Special Resolution approving the change of the Company's name to Cobalt Blockchain Inc. was approved by 100% of the votes cast. The Company must receive TSX Venture Exchange approval prior to the name change. 

2. The Company's proposed acquisition of Belair African Metals SARL was approved by 100% of the votes cast. 

3. The resolution approving and confirming changes in management was approved by 100% of the votes cast excluding those votes attaching to shares beneficially owned by directors and officers (including new proposed directors and officers), their affiliates, associates and joint actors and by insiders...

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> Peat Resources Limited Announces Closing of Debt Settlement

TORONTO, ONTARIO (March 2, 2018) -- Peat Resources Limited (the "Company") (TSXV: PET) is pleased to announce that it has closed its previously announced debt settlement with various creditors, pursuant to which the Company has settled an aggregate of $1,005,358 of indebtedness through the issuance of an aggregate of 20,107,160 common shares at a price of $0.05 per share.  All common shares issued in connection with the debt settlement are subject to a four-month statutory hold period.

William White will acquire 18,107,160 common shares of the Company in connection with the debt settlement.  Following completion of the debt settlement, Mr. White will own or control an aggregate of 25,088,550 common shares, representing approximately 17.31% of the issued and outstanding common shares of the Company...

In addition, the Company will issue 87,500 shares upon the exercise of broker warrants issued on November 17, 2015 exercisable at $0.05 share, which warrant was exercised on March 1, 2018.  As a result of the shares for debt transaction and the warrant exercise, the total issued and outstanding shares of the Company is 144,906,141.

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> Peat Resources Limited Engages Better Chain S.L. in Launch of Cobalt Blockchain Project

TORONTO, ONTARIO (March 1, 2018) -- Peat Resources Limited (the "Company") (TSXV: PET) is pleased to announce that it has engaged Better Chain S.L. (“BetterChain”) in the launch of the Company’s project to provide a blockchain-based platform to demonstrate compliance of cobalt and other minerals (the “Cobalt Blockchain Project”) with international standards on responsible procurement.

 

“Manufacturers and end-users are increasingly demanding more transparency on the origin of minerals to ensure compliance with international standards and that all materials procured are conflict- and child-labour-free,” said Lance Hooper, President and Chief Operating Officer of the Company. “To help meet these demands we are pleased to welcome Benjamin and his team to the Cobalt Blockchain Project. Their wealth of experience will add immense value to our efforts in developing an integrated platform for mineral supply chains with an immediate focus on unlocking the potential of ethically-sourced cobalt from the DRC." 

BetterChain is a Spanish company headquartered in Barcelona. Its principals are experts in the design of innovative solutions to encourage responsible procurement practices, with unique experience in conflict-free assurance for tin, tantalum, tungsten and gold supply chains. They maintain a strong local network in the Democratic Republic of the Congo (DRC) and among other mineral supply chain stakeholders. 

 
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> Peat Resources Limited Announces Closing of Additional Private Placement

TORONTO, ONTARIO (February 13, 2018) -- Peat Resources Limited (the "Company") (TSXV: PET) is pleased to announce that it has closed its additional private placement of 5,614,245 common shares of the Company at a price of $0.20 per share for aggregate proceeds of $1,112,849 (the "Offering"), initially announced on January 12, 2018. The Company will use the net proceeds from the Offering to fund the acquisition of mineral property interests in the Democratic Republic of the Congo, transaction costs and general working capital purposes.

In connection with the completion of the Offering, the Company issued an aggregate of 75,000 broker warrants, representing 10% of the number of common shares issued pursuant to the brokered portion of the Offering. Each broker warrant is exercisable into one common share at a price of $0.20 per common share for a period of five years from the date of issuance.


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> Peat Resources Limited Announces Closing of Further Private Placement

TORONTO, ONTARIO (February 5, 2018) -- Peat Resources Limited (TSXV: PET) (the "Company") is pleased to announce that it has closed its additional private placement of 5,000,000 common shares of the Company at a price of $0.0525 per share for aggregate proceeds of up to $262,500 (the "Offering"), as previously announced on January 9, 2018. The Company will use the net proceeds from the Offering for general working capital purposes.

 

In connection with the completion of the Offering, the Company issued an aggregate of 500,000 broker warrants as a finder's fee, representing 10% of the number of common shares issued pursuant to the Offering. Each broker warrant is exercisable into one common share at a price of $0.0525 per common share for a period of five years from the date of issuance.

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> Peat Resources Limited Signs Definitive Agreement to Acquire Belair African Metals SARL

TORONTO, ONTARIO (January 19, 2018) -- Peat Resources Limited (TSXV: PET) (the "Company") announces that the Company has signed a definitive agreement with Belair Maniema Corp for the acquisition of all the issued shares of Belair African Metals SARL ("Belair") pursuant to a letter of intent announced on December 20, 2017.


The Company will acquire 100% of the issued shares of Belair in consideration of 15,000,000 fully-paid and non-assessable common shares of the Company which will represent 9.42% of the 159,404,396 common shares of the Company expected to be outstanding upon the completion of the transaction. The transaction remains subject to receipt of all necessary regulatory approvals...


The Company is actively working on acquiring high-grade cobalt and copper properties in the DRC to expand its property portfolio. The Company is also actively working to enhance its current third-party traceability programs via a blockchain-based protocol, to improve transparency, security, and immutability in certifying that its metals are sourced and traded conflict-free.

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> Prior releases available on SEDAR

Note on continuity of news and listing history:

On March 22, 2018, the TSX Venture Exchange confirmed that, pursuant to a resolution passed by shareholders on March 13, 2018, the Company has changed its name and listing from Peat Resources Limited (TSXV:PET) to Cobalt Blockchain Inc. (TSXV:COBC). 

Copyright © 2020 Cobalt Blockchain Inc. All rights reserved.

The COBC logo, Cobalt Blockchain, COBC, and Mintrax are trademarks or registered trademarks.