TSX.V: CPO
VANCOUVER, Oct. 20, 2017 /CNW/ - Cobalt Power Group Inc. (the
"Company") (TSX.V: CPO) is pleased to announce that it has closed its fully subscribed for non-brokered flow-through private
placement announced on October 12, 2017 for gross flow-through proceeds raised in the placement of
CDN $800,000.
The non-brokered flow-through private placement closed on October 19, 2017 and consisted of the
placement of 5,000,000 flow-through shares at a price of $0.16 per flow-through share.
As compensation for the placement of the units, Cobalt Power paid cash finder's fees of $33,000
calculated at 6% of the amount placed by two (2) finders. In addition, the Company issued to eligible finders 206,250
Broker Warrants also calculated at 6% of the flow-through shares placed by the eligible finders. Each Broker's Warrant is
exercisable at price of $0.16 to purchase one additional common share of the Company for a period
of two (2) years from the date of closing of the Private Placement.
All securities issued by Cobalt Power pursuant to the offering have been issued subject to a four month hold period expiring
February 20, 2018.
The proceeds of the Offering will be used by the Issuer for exploration of present and future Canadian cobalt mineral
properties.
About Cobalt Power Group Inc.
Cobalt Power Group Inc. is a publicly traded Canadian exploration company listed on the TSX-Venture Exchange (TSX-V: CPO)
focused on cobalt exploration and development.
On behalf of the Board of Directors
Dr. Andreas Rompel, President and CEO
Cobalt Power Group Inc.
www.cobaltpowergroup.com
We seek safe harbor.
The TSX Venture Exchange Inc. has in no way passed upon the merits of the proposed transaction and has neither
approved nor disapproved the contents of this press release.
Forward Looking Information
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of the content of
this News Release. WARNING: The Company relies on litigation protection for "forward looking" statements. Actual results could
differ materially from those described in the news release as a result of numerous factors, some of which are outside the control
of the Company. This news release does not constitute an offer to sell or a solicitation of an offer to sell any of the
securities in the United States. The securities have not been and will not be registered under
the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may
not be offered or sold within the United States or to U.S. Persons unless registered under the
U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.
SOURCE Cobalt Power Group Inc
View original content with multimedia: http://www.newswire.ca/en/releases/archive/October2017/20/c8718.html