Mr. Peter Clausi reports

CBLT FINANCING

CBLT Inc. has arranged a non-brokered financing which will consist of:

• Up to $50,000 in common share units, each priced at eight cents, with each common share unit consisting of one common share and one common share purchase warrant. Each common share purchase warrant shall be exercisable for an 18-month period at 10 cents;
• Up to $100,000 in flow-through units, each priced at 10 cents, with each flow-through unit consisting of one common share issued on a flow-through basis and one common share purchase warrant exercisable for an 18-month period at 12 cents.

Proceeds from the sale of the flow-through units will be used for Canadian exploration expenses which qualify as flow-through mining expenditures for the purposes of the Income Tax Act (Canada) and the company will renounce such expenses with an effective date no later than Dec. 31, 2017.

Proceeds from the offering generally will be used for community engagement, exploration, data compilation, drilling, all with a focus on cobalt, and for general purposes and administration costs.

Where applicable, a finder's fee may be paid of 7-per-cent cash and 7-per-cent broker warrants, with such broker warrants having the same characteristics as the underlying securities for which they have been issued.

The offering will take place by way of a private placement to qualified investors in those jurisdictions where the offering can lawfully be made. The securities to be issued under the offering will be subject to a minimum regulatory four-month-and-one-day hold period, from the closing. Closing is anticipated to take place on the obtaining of regulatory approval.

We seek Safe Harbor.