Global Cobalt Announces Shares For Debt Settlement
04 Junio 2014 - 8:14AM
Access Wire
VANCOUVER, BC / ACCESSWIRE / JUNE
4th, 2014
/ GLOBAL COBALT CORP. (TSXV:GCO) ("Global Cobalt" and/or
the "Company") (TSXV:GCO) (OTCBB:GLBCF) (FRA:3P0) announces that Mr. Don
Taylor, a service provider (the "Service Provider") to the Company
has agreed to accept shares in lieu of cash for the repayment of
$137,000 of services (the "Services") owed. The Service Provider
will receive a total of 1,370,000 common shares of the Company at a
deemed price of $0.10 per share as payment of the Services (the
"Service Settlement").
The shares issued in the
Service Settlement will be in accordance with applicable securities
law and will be subject to the prior approval of the TSXV.
All of the common shares
to be issued in connection with the Service Settlement are being
issued to preserve cash committed to project development and
working capital.
Global Cobalt
Corporation:
Global Cobalt Corporation is a
Canada-based strategic metals company focused on the development of
a new mining region in the Republic of Altai. Global Cobalt
will build upon the success of the Altai
Projects while aggressively expanding and exploring existing
properties to meet the demand for cobalt and other strategic
metals.
For Further
Information:
Mr. Mitchell Smith, Corporate
Development
Suite 1510-1050 West Pender
Street
Vancouver, BC V6E 3T4
Tel: +1 (604) 688-4219
Fax: +1 (604) 688-4215
Email: info@globalcobaltcorp.com
www.GlobalCobaltCorp.com
TSXV:GCO; OTCBB:GLBCF;
FRA:3P0; CUSIP:37890F
Cautionary
Statement on Forward-Looking Information: The statements made in
this News Release may contain certain forward-looking statements.
Actual events or results may differ from the Company's
expectations. Certain risk factors may also affect the actual
results achieved by the Company.
This news release
shall not constitute an offer to sell or the solicitation of any
offer to buy, nor shall there be any sale of these securities in
any jurisdiction in which such offer, solicitation or sale would be
unlawful. The shares offered will not be and have not been
registered under the United States Securities Act of 1933, as
amended (the "U.S. Securities Act") and may not be offered or sold
in the United States absent registration or an applicable exemption
from the registration requirements of the U.S. Securities Act and
applicable state securities laws.
Neither TSX
Venture Exchange nor its Regulation Services Provider (as that term
is defined in the policies of the TSX Venture Exchange) accepts
responsibility for the adequacy or accuracy of this release.
SOURCE: Global Cobalt Corporation
Global Cobalt Corporation (TSXV:GCO)
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