COQUITLAM, BC, March 17, 2020 /CNW/ - Canada Cobalt Works
Inc. (TSXV: CCW) (OTC: CCWOF) (Frankfurt: 4T9B) (the "Company" or "Canada
Cobalt") is pleased to announce that a Special Meeting ("Meeting")
of its shareholders will be held May 7,
2020, in order to change the Company's name to "Canada
Silver Cobalt Works Inc.". The CCW trading symbol will
remain the same.
The name change is subject to a Special Resolution which
requires the approval of at least 66% (two-thirds) of the
votes cast by shareholders present in person or represented by
proxy at the May 7 Meeting.
Marc T. Bamber, Canada Cobalt
director, commented: "Given the growing significance of the
high-grade silver discovery at Castle East, in the heart of a
robust past producing primary silver camp with cobalt as an
important by-product, making 'silver' part of the full company name
is a necessary step. It will help put CCW on a lot more radar
screens among silver-focused investors at a time when the outlook
for silver couldn't be better in management's view given current
levels and global developments."
Bamber added, "Concurrently, 'Canada Silver Cobalt Works' also
reflects our competitive advantage in the cobalt space and the fact
we are now vertically integrated with a processing facility in the
town of Cobalt. The CCW stock symbol, integral to the brand,
will not change. There will be a minor adjustment to the logo
and a significant revamping of the web site. In addition,
we're exploring the possibility of a listing on the London Stock
Exchange."
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.