GREY:BNCIF - Post by User
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Goldfatheron Nov 22, 2017 7:04am
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95% Approval
95% Approval CobalTech Shareholders Approve Merger with First Cobalt | |
| TORONTO, ON — (November 22, 2017) – First Cobalt Corp. (TSX-V: FCC, OTCQB: FTSSF) (the “Company”) is pleased to announce shareholders of CobalTech Mining Inc. (TSX-V: CSK) have approved the merger with First Cobalt, with 95% of votes cast in favour.
Trent Mell, President & Chief Executive Officer, commented:
“We now have approval from CobalTech and Cobalt One shareholders to finalize the three-way merger and we look forward to closing both transaction over the next 2 weeks. First Cobalt now controls approximately 45% of the prospective land in the Cobalt Camp. This historic mining camp has never seen the required land consolidation to permit district-scale exploration and we will remain very active in 2018.”
CobalTech assets include a mill facility in the Cobalt Camp and a land package with a rich mining history that is contiguous to Cobalt One and First Cobalt properties. The combined company will own more than 10,000 hectares of prospective land including the only permitted cobalt refinery in North America designed to produce battery materials.
About First Cobalt
First Cobalt’s objective is to create the largest pure-play cobalt exploration and development company in the world. Upon completion of the mergers with Cobalt One Ltd. and CobalTech Mining Inc., First Cobalt will control over 10,000 hectares of prospective land and 50 historic mining operations in the Cobalt Camp in Ontario, Canada as well as a mill and a permitted refinery facility.
On behalf of First Cobalt Corp.
Trent Mell
President & Chief Executive Officer | |