TORONTO, Dec. 19, 2018 /CNW/ - First Cobalt Corp.
(TSX-V: FCC; ASX: FCC; OTCQX: FTSSF) (the "Company") announces it
has filed a preliminary short form base shelf prospectus with the
securities regulators in the Provinces of Alberta, British
Columbia and Ontario. When
made final or effective, this filling will allow the Company to
make offerings of common shares, subscription receipts, warrants or
any combination thereof of up to C$20
million during the 25-month period that the base shelf
prospectus is effective. The specific terms of any offering of
securities, including the use of proceeds from any offering, will
be set forth in a shelf prospectus supplement.
First Cobalt has filed this base shelf prospectus in order to
provide the Company with greater financial flexibility going
forward but has not entered into any agreements or arrangements to
authorize or offer any securities at this time. In Canada, the use of a base shelf prospectus is
customary practice as it allows companies to undergo applicable
Canadian regulatory review process before commencing any offer of
securities. The Company has no immediate plans to issue securities
under the base shelf prospectus, and indeed may never issue any
securities under this prospectus. The terms of any security offer
will be made subject to applicable securities laws and depending on
the final structure and size of any security offer, the Company may
require shareholder approval under the ASX Listing Rules.
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy, nor shall there be any sale of
these securities in any province, state or jurisdiction in which
such offer, solicitation or sale would be unlawful prior to the
registration or qualification under the securities laws of any such
province, state or jurisdiction.
A copy of the preliminary short form base shelf prospectus can
be found on SEDAR at www.sedar.com and ASX at www.asx.com.au.
About First Cobalt
First Cobalt is a North American pure-play cobalt company whose
flagship asset is the Iron Creek Cobalt Project in Idaho, USA, which has Inferred mineral
resources of 26.9 million tonnes grading 0.11% cobalt equivalent.
The Company's other assets include 50 past-producing mines in
the Canadian Cobalt Camp and the only permitted cobalt refinery in
North America capable of producing
battery materials.
On behalf of First Cobalt Corp.
Trent Mell
President & Chief Executive Officer
The base shelf prospectus is not a disclosure document under
Part 6D.2 of the Corporations Act 2001 (Commonwealth) and has not
been lodged with the Australian Securities and Investments
Commission.
Neither TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in policies of the TSX Venture
Exchange) accepts responsibility for the adequacy or accuracy
of this release.
Cautionary Note Regarding Estimates of
Resources
Readers are cautioned that mineral resources are not economic
mineral reserves and that the economic viability of resources that
are not mineral reserves has not been demonstrated. The estimate of
mineral resources may be materially affected by geology,
environmental, permitting, legal, title, socio-political, marketing
or other relevant issues. The mineral resource estimate is
classified in accordance with the Canadian Institute of Mining,
Metallurgy and Petroleum's "2014 CIM Definition Standards on
Mineral Resources and Mineral Reserves" incorporated by reference
into NI 43-101. Under Canadian rules, estimates of inferred mineral
resources may not form the basis of feasibility or pre-feasibility
studies or economic studies except for Preliminary Economic
Assessment as defined under NI 43-101. Readers are cautioned not to
assume that further work on the stated resources will lead to
mineral reserves that can be mined economically. An Inferred
Mineral Resource as defined by the CIM Standing Committee is "that
part of a Mineral Resource for which quantity and grade or quality
are estimated on the basis of limited geological evidence and
sampling. Geological evidence is sufficient to imply but not verify
geological and grade or quality continuity. An Inferred Mineral
Resource has a lower level of confidence than that applying to an
Indicated Mineral Resource and must not be converted to a Mineral
Reserve. It is reasonably expected that the majority of Inferred
Mineral Resources could be upgraded to Indicated Mineral Resources
with continued exploration."
SOURCE First Cobalt Corp.