Cobalt Blockchain Announces Private Placement

Cobalt Blockchain Inc. announces that it is still working towards completion of 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.

Cobalt Blockchain Inc. announces that it is still working towards completion of 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. 

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.

The Company intends to use the net proceeds of the Offering to fund exploration work on its joint venture properties, commissioning of the hydroxide plant in Democratic Republic of Congo and securing adequate feed material for the plant, and for working capital and general corporate purposes.