COQUITLAM, BC, Jan. 14, 2020 /CNW/ - Canada Cobalt Works Inc.
(TSXV: CCW) (OTC: CCWOF) (Frankfurt: 4T9B) (the "Company" or "Canada
Cobalt") is pleased to announce that all 50-cent warrants from the Company's January 2018 financing have been exercised,
including 2,742,875 of them over the last two weeks (200,000 were
exercised in early 2019).
The exercise of these warrants has added $1,371,437 to
the Company's treasury this month following the completion of a
total of $2,134,500 in two hard
dollar private placements with strategic investors in September and
November 2019, and $800,000 in a flow-through financing in early
December 2019.
Drilling continues at Canada Cobalt's Castle East high-grade
silver discovery, with another update from Castle East expected
soon, while a work program has just commenced at the Company's past
producing Beaver high-grade Silver Property. The patented Beaver
claims, which formed part of the historic Beaver-Timiskaming mine,
are approximately five kilometers from the Company's newly-acquired
PolyMet facility in the town of Cobalt.
About Canada Cobalt Works Inc.
Canada Cobalt's flagship Castle mine and 78 sq. km Castle
Property features 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, 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
Cobalt is strategically positioned to become a vertically
integrated North American leader in cobalt extraction and recovery
while it also exploits a powerful new silver-gold market cycle.
"Frank J. Basa"
Frank J. Basa, P. Eng.
President and Chief Executive Officer
Neither the TSX Venture Exchange nor its Regulation Service
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release. This news release may contain
forward-looking statements including but not limited to comments
regarding the timing and content of upcoming work programs,
geological interpretations, receipt of property titles, potential
mineral recovery processes, etc. Forward-looking statements address
future events and conditions and therefore, involve inherent risks
and uncertainties. Actual results may differ materially from those
currently anticipated in such statements.
SOURCE Canada Cobalt Works Inc.