Vancouver, BC – March 18, 2020 – Fuse Cobalt Inc. (“the Company“ or “Fuse”) (TSXV: FUSE, OTCQB: WCTXF FRA:43W2) announces a non-brokered private placement financing of up to 2,000,000 units (“Units”) at a price of $0.05 per Unit for gross proceeds of up to $100,000.
Each Unit will consist of one common share and one share purchase warrant. Each share purchase warrant will entitle the holder thereof to purchase one additional common share of the Company at an exercise price of $0.065 per share for a period of five years from closing, subject to TSX Venture Exchange (“Exchange”) approval.
Finder fees will be paid in connection with the private placement. Any finder fees will be subject to Exchange approval. All securities issued in connection with the private placement will be subject to a four-month and a day hold period in accordance with applicable Securities Laws. The proceeds of the Private Placement will be used for exploration and development and for general working capital purposes.
About Fuse Cobalt Inc. https://fusecobalt.com/
Fuse Cobalt Inc. is a Canadian based exploration company that trades under the symbol FUSE on the TSX Venture Exchange. The Company’s focus is on exploration for high value metals required for the manufacturing of batteries.
Ontario Cobalt Properties: Fuse owns a 100% interest its Glencore Bucke Property, situated in Bucke Township, 6 km eastnortheast of Cobalt, Ontario, subject to a back-in provision, production royalty and off-take agreement. The Glencore Bucke Property consists of 16.2 hectares and sits along the west boundary of Fuse’s Teledyne Cobalt Project. The Company also owns a 100% interest, subject to a royalty, in the Teledyne Project located near Cobalt, Ontario. The Teledyne Property adjoins the south and west boundaries of claims that hosted the Agaunico Mine.
On Behalf of the Board of Directors
Robert Setter, President &CEO
Neither the 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. This news release may contain forward-looking statements which include, but are not limited to, comments that involve future events and conditions, which are subject to various risks and uncertainties. Except for statements of historical facts, comments that address resource potential, upcoming work programs, geological interpretations, receipt and security of mineral property titles, availability of funds, and others are forward-looking. Forward-looking statements are not guarantees of future performance and actual results may vary materially from those statements. General business conditions are factors that could cause actual results to vary materially from forward-looking statements.