First Cobalt Announces $10.0 Million ATM Financing, Warrant Acceleration

First Cobalt Corp (TSXV: FCC) late last night announced that it will be undertaking an at the market offering, as well as accelerating the expiry of certain warrants. The financing itself will see the company raise up to $10.0 million in gross proceeds.

The financing announced will see the company sell its shares directly on the market over the course of the coming months, to raising gross proceeds of $10.0 million. The ATM is being facilitated by that of Cantor Fitzgerald, with the financing slated to expire once fulfilled, or December 26, 2022, whichever comes first.

Proceeds from the financing are to be used for the development of the firms refinery project in Ontario, as well as for general corporate purposes.

Also announced this morning is that the company is accelerating warrants issued in connection with financings that occurred in March 2019 and February 2020. The trigger was met after the company traded above $0.37 for a period of ten consecutive trading days on a volume weighted basis.

There are currently 3.0 million warrants outstanding from 2019 with an exercise price of $0.27, and 5.6 million with an exercise price of $0.21 per share that now have twenty calendar days to be exercised before expiring. Both sets of warrants will now expire March 15, 2021.

First Cobalt last traded at $0.415 on the TSX Venture.


Information for this briefing was found via Sedar and the companies mentioned. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.

Video Articles

2026 Could Be Gold’s Biggest Year Yet!? | Ryan King – Equinox Gold

Gold Is Screaming Higher While Currencies Burn | Simon Ridgway – Rackla Metals

We Have the Highest-Grade Antimony Deposit in North America!? | Jim Atkinson -Antimony Resources

Recommended

Canadian Copper Secures $8 Million Lead Order From Ocean Partners As Part Of Larger Funding Round

Northern Superior Expands Philibert With 350 Metre Step Out Testing 1.10 g/t Gold Over 25.5 Metres

Related News

Electra Battery Materials Considers Construction Of Second Cobalt Sulfate Refinery

They may not have yet completed their first cobalt sulfate refinery, but Electra Battery Materials...

Wednesday, June 22, 2022, 08:36:14 AM

First Cobalt Secures US$600,000 From Department Of Energy For Idaho Cobalt Project

First Cobalt Corp. (TSXV: FCC) announced this morning that it has been awarded funding from...

Wednesday, April 28, 2021, 08:56:21 AM

Eguana Launches Cobalt-Free Home Battery System

This morning Eguana Technologies (TSX.V: EGT) announced they have expanded their Evolve residential product line...

Tuesday, July 21, 2020, 10:01:09 AM

First Cobalt Announces 4,500 Metre Drill Program At Iron Creek

First Cobalt Corp (TSXV: FCC) this morning announced an exploration program at its Iron Creek...

Thursday, June 24, 2021, 07:38:12 AM

First Cobalt: New Battery Technology Could Negatively Impact Cobalt Miners

Along with other cobalt miners, First Cobalt Corp. (TSXV: FCC) faces a fundamental risk related...

Tuesday, November 3, 2020, 12:51:00 PM