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Canada Silver Cobalt Works Inc
Symbol CCW
Shares Issued 120,917,064
Close 2021-04-07 C$ 0.42
Recent Sedar Documents

Canada Silver closes $950,000 FT private placement

2021-04-07 22:41 ET - News Release

Mr. Frank Basa reports

CANADA SILVER CLOSES FLOW-THROUGH PRIVATE PLACEMENT

Canada Silver Cobalt Works Inc. has closed a non-brokered private placement by way of issuing 2,021,276 flow-through units at a price of 47 cents per FT unit, raising gross proceeds of $950,000.

Each FT unit is composed of one flow-through common share of the company and one-half of one share purchase warrant. Each whole warrant will entitle the holder thereof to purchase one additional common share of the company at an exercise price of 58 cents per share for a period of two years from closing, subject to TSX Venture Exchange approval.

The company has paid finders' fees in the amount of $66,500 and issued 141,490 finders' warrants in connection with the FT private placement. The finders' warrants are on the same terms as the financing warrants. The finders' fees are subject to exchange approval.

All securities issued in connection with the private placement will be subject to a four-month-and-a-day hold period expiring on Aug. 8, 2021, in accordance with applicable Canadian securities laws.

About Canada Silver Cobalt Works Inc.

Canada Silver Cobalt Works released the first ever resource in the Gowganda camp and greater Cobalt camp in May, 2020. A total of 7.56 million ounces of silver in inferred resources comprising very high-grade silver (8,582 grams per tonne uncut or 250.2 ounces per ton) in 27,400 tonnes of material from two sections (1A and 1B) of the Robinson zone beginning at a vertical depth of approximately 400 metres were identified. The discovery remains open in all directions (1A and 1B are approximately 800 metres east of the Capitol mine workings) (mineral resources that are not mineral reserves do not have demonstrated economic viability) (refer to Canada Silver Cobalt Works press release dated May 28, 2020; report reference: M. Rachidi, 2020, National Instrument 43-101 technical report, mineral resource estimate for Castle East, Robinson zone, Ontario, Canada, with an effective date of May 28, 2020, and a signature date of July 13, 2020).

Canada Silver Cobalt's flagship Castle mine and 78-square-kilometre Castle property feature strong exploration upside for silver, cobalt, nickel, gold and copper in the prolific past-producing Gowganda high-grade silver district of Northern Ontario. With underground access at Castle, a pilot plant to produce cobalt-rich gravity concentrates on site, a processing facility (TTL Laboratories) in the town of Cobalt and a proprietary hydrometallurgical process known as Re-2Ox for the creation of technical-grade cobalt sulphate, as well as nickel-manganese-cobalt (NMC) formulations, Canada Silver Cobalt is strategically positioned to become a Canadian leader in the silver-cobalt space.

We seek Safe Harbor.

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