ROUYN NORANDA, QC, May 8, 2020 /CNW/ - Canada Cobalt Works Inc.
(TSXV: CCW) (OTC: CCWOF) (Frankfurt: 4T9B) (the "Company" or "Canada
Cobalt") is pleased to announce that shareholders in a Special
Meeting yesterday voted 99.92% in favor of changing the Company's
name to Canada Silver Cobalt Works Inc. in order to better reflect
its immediate and longer-term direction.
The name change is expected to be effective in the coming days,
pursuant to filing Articles of Amendment and subject to TSX Venture
Exchange approval, followed by a major update on company activities
including the high-grade silver discovery at Castle East next to
three significant past producers. There will be no change in the
company's stock symbol.
Matt Halliday, VP-Exploration,
commented: "Work continues at Castle East, with all necessary
precautions during the COVID-19 pandemic, and we look forward to a
major ramping up of activity this quarter as we further position
CCW as the leading silver-cobalt company in Canada's silver-cobalt heartland."
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.