Mr. Greg Burns reports
QUANTUM COBALT ANNOUNCES FLOW-THROUGH PRIVATE PLACEMENT AT $2.00 PER FLOW-THROUGH UNIT FOR TOTAL PROCEEDS OF $1,000,000
Quantum Cobalt Corp. has arranged a flow-through non-brokered private placement for up to 500,000 flow-through units at a price of $2 for gross proceeds of $1-million.
Each flow-through unit will comprise one flow-through share of the company and one common share purchase warrant of the company. Each warrant will be exercisable into a common share of the company for a period of 24 months at an exercise price of $3 during the 24 months.
Chief executive officer Greg Burns commented: "The net proceeds from the non-brokered private placement are intended to further advance the portfolio of properties and continue our systematic exploration plan of our properties. Furthermore, we look to undertake all necessary steps to process the historical rock pile of cobalt on the Nipsing property."
We seek Safe Harbor.
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