register free | resend password


Canada Silver Cobalt Closes 1st Tranche Private Placement with a Lead Order from Palisades Goldcorp Ltd.

ID: 1560125
recent pressrelease next pressrelease

(businesspress24) -
August 14, 2020 - Canada Silver Cobalt Works Inc. (TSXV: CCW) (OTC: CCWOF) (Frankfurt: 4T9B) (the "Company" or "Canada Silver Cobalt") is pleased to announce that the Company has closed the first tranche of its non-brokered private placement financing, raising gross proceeds of $3,193,730 with a lead order from Palisades Goldcorp Ltd.

The Company has issued 5,806,782 units (Units) in the first tranche closing. Each Unit is comprised of one common share of the Company and one share purchase warrant. Each whole warrant will entitle the holder thereof to purchase one additional common share of the Company at an exercise price of $0.65 per share, for a period of three years from closing, subject to TSX Venture Exchange (Exchange) final approval.

The proceeds of the private placement will be used for ongoing drilling of the Castle East Robinson Zone discovery, near the town of Gowganda, Ontario and for general working capital.

Finder fees in the amount of $90,247.50 and the issuance of 164,086 finder warrants were paid in connection with the private placement. The finders warrants are on the same terms as the financing warrants. The finder fees are subject to Exchange approval.

All securities issued in connection with the private placement are subject to a fourmonth and a day hold period in accordance with applicable Canadian Securities Laws.

About Palisades GoldCorp.

Palisades Goldcorp is Canada''s new resource focused merchant bank. Palisades'' management team has a demonstrated track record of making money and is backed by many of the industry''s most notable financiers. With junior resource equities valued at generational lows, management believes the sector is on the cusp of a major bull market move. Palisades is positioning itself with significant stakes in undervalued companies and assets with the goal of generating superior returns.

About Canada Silver Cobalt Works Inc.

Canada Silver Cobalts flagship Castle mine and 78 sq. km Castle Property features strong exploration upside for silver, cobalt, nickel, gold and copper in the prolific past producing Gowganda high-grade Silver-Cobalt District of Northern Ontario. With an important new discovery at Castle East, underground access at the Castle mine, a processing facility (TTL Laboratories) in the nearby town of Cobalt, a proprietary hydrometallurgical process known as Re-2OX, and the Beaver and Violet properties, CCW is strategically positioned to become a Canadian leader in the silver-cobalt space.



Frank J. Basa
Frank J. Basa, P. Eng.
Chief Executive Officer

For further information, contact:

Frank J. Basa, P.Eng.,
CEO
1-416-625-2342

Wayne Cheveldayoff,
Corporate Communications,
waynecheveldayoff(at)gmail.com,
1-416-710-2410

Canada Silver Cobalt Works Inc.
3028 Quadra Court
Coquitlam, B.C., V3B 5X6
CanadaSilverCobaltWorks.com

Neither the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. This news release may contain forward-looking statements including but not limited to comments regarding the timing and content of upcoming work programs, geological interpretations, receipt of property titles, potential mineral recovery processes, etc. Forward-looking statements address future events and conditions and therefore, involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements.



More information:
http://



Keywords (optional):



Company information / Profile:

PressRelease by

Requests:





PressContact / Agency:



published by: irw
print pressrelease  send to a friend  

Date: 08/14/2020 - 22:23
Language: English
News-ID 1560125
Character count: 3805
Kontakt-Informationen:
Firma: Canada Silver Cobalt Works
Ansprechpartner: Feedback to businesspress24.com about Pressrelease-id:
Stadt: Wien
Telefon:

Meldungsart:
Versandart:
Freigabedatum:
Comments:



Number of hits: 824

Linking-Tips:



Direct Link to this PressRelease:






We would appreciate a link in your News-, Press- or Partner-Site.

Comments on this PressRelease






All members: 9 438
Register today: 0
Register yesterday: 0
Members online: 0
Guests online: 69


Don't have an account yet? You can create one. As registered user you have some advantages like theme manager, comments configuration and post comments with your name.