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Cobalt Power Group closes non-brokered private placement


VANCOUVER, Jan. 11, 2018 /CNW/ – Cobalt Power Group Inc. (the “Company”) (TSX.V: CPO) is gratified to announce that, pursuant to a cost reservation and redeeming acceptance by a TSX Venture Exchange, it has sealed a non-brokered private chain of 13,640,000 units for sum deduction of CDN$1,500,400.

Cobalt Power Group Inc. (CNW Group/Cobalt Power Group Inc)

The non-brokered private chain sealed on January 10, 2018, and consisted of a chain of 13,640,000 units during a cost of $0.11 per unit. Each section consisted of one common share of a Company and one-half negotiable share squeeze aver with one full aver entitling a hilt to squeeze one additional common share of a Company during a cost of $0.28 for a duration of dual (2) years following a date of closing.

As remuneration for a chain of a units, Cobalt Power has concluded to compensate finder’s fees equal to $79,920 distributed during 6% of a volume placed by one (1) finder. The finder has opted to modify his money commissions into shares of Cobalt Power during a cost of $0.32 per share for a sum of 249,750 common shares of a Company, theme to TSX Venture Exchange approval. 

All bonds released by Cobalt Power pursuant to a charity have been released theme to a 4 month reason duration failing May 11, 2018. 

The non-brokered private chain perceived estimable seductiveness ensuing in an oversubscription, whereby some of a subscriptions were not filled and some were reduced from a strange amount. Due to this demand, government opted out of participating.

The deduction will be used to allege a Company’s cobalt properties, including properties recently gained by a merger of Canadian Cobalt Projects Inc. and additional cobalt scrutiny opportunities ensuing from that acquisition.

About Cobalt Power Group Inc.

Cobalt Power Group Inc. is a publicly traded Canadian scrutiny association listed on a TSX-Venture Exchange and U.S. Pink Sheets (TSX-V: CPO, OTC Pink: CBBWF) focused on cobalt scrutiny and development.

The Company has done a array of vital skill acquisitions over a past dual years, seeking cobalt mineralization nearby Cobalt, Ontario – a segment with a prolonged story of china and compared cobalt production. Property land sum approximately 8,736 hectares (21,600 acres) in constant and vital explain blocks. There are several ancestral mining operations on a properties that are potentially accessible, including a Smith Cobalt missile and a subterraneous workings.

On interest of a Board of Directors

Dr. Andreas Rompel, President and CEO
Cobalt Power Group Inc.


We find protected harbor.

The TSX Venture Exchange Inc. has in no approach upheld on a merits of a due transaction and has conjunction authorized nor disapproved a essence of this press release.

Forward Looking Information

The TSX Venture Exchange has not reviewed and does not accept shortcoming for a endowment or correctness of a calm of this News Release. WARNING: The Company relies on lawsuit insurance for “forward looking” statements. Actual formula could differ materially from those described in a news recover as a outcome of countless factors, some of that are outward a control of a Company. This news recover does not consecrate an offer to sell or a questionnaire of an offer to sell any of a bonds in the United States. The bonds have not been and will not be purebred underneath a United States Securities Act of 1933, as nice (the “U.S. Securities Act”) or any state bonds laws and might not be offering or sole within the United States or to U.S. Persons unless purebred underneath a U.S. Securities Act and germane state bonds laws or an grant from such registration is available.

SOURCE Cobalt Power Group Inc

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