leadf
logo-loader
viewCanada Silver Cobalt Works Inc.

Canada Silver Cobalt Works raises C$4.95M as it closes flow-through placing

In May this year, it released the first-ever resource in the Gowganda Camp and greater Cobalt Camp at the Robinson zone

Canada Silver Cobalt Works Inc. -
Inferred ounces of silver was pegged at 7.56 million ounces at a very high-grade of 8,582 grams per tonne

Canada Silver Cobalt Works (CVE:CCW) (OTCQB:CCWOF) (FRA:4T9B) said it had closed a placing, raising C$4.95 million, as the company continues to advance assets in the prolific past producing Gowganda high-grade silver district in Ontario. 

In a brief statement, the group said it is issuing 4,288,778 flow-through units (FT units) at C$0.63 each, raising gross proceeds of C$2,701,930. 

READ: Canada Silver Cobalt Works options highly prospective B2 nickel-copper-cobalt project in Quebec 

The mining group said it will also issue 3,308,824 Quebec FT units at C$0.68 per QFT unit to raise gross proceeds C$2.25 million.

Each FT and QFT unit consists of one flow-through company share and one half of a share purchase warrant. 

Each whole warrant will entitle the holder to buy one further share at an exercise price of C$0.80 each for two years from closing, subject to Toronto venture exchange approval.

In May this year, the company released the first-ever resource in the Gowganda Camp and greater Cobalt Camp at the Robinson zone.

Inferred ounces of silver was pegged at 7.56 million ounces at a very high-grade of 8,582 grams per tonne un-cut, from 27,400 tonnes of material from two sections (1A and 1B) of the Robinson Zone beginning at a vertical depth of around 400 meters. The discovery remains open in all directions.

Canada Silver Cobalt's flagship Castle mine and 78 square kilometre (sq km) Castle property boast strong exploration upside for silver, cobalt, nickel, gold and copper.

Contact the author at giles@proactiveinvestors.com

Quick facts: Canada Silver Cobalt Works Inc.

Price: 0.485 CAD

TSX-V:CCW
Market: TSX-V
Market Cap: $58.1 m
Follow

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events

NO INVESTMENT ADVICE

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

In exchange for publishing services rendered by the Company on behalf of Canada Silver Cobalt Works Inc. named herein, including the promotion by the Company of Canada Silver Cobalt Works Inc. in any Content on the...

FOR OUR FULL DISCLAIMER CLICK HERE

Canada Silver Cobalt Works sees strong drill results from 50,000 metre...

Canada Silver Cobalt Works CVE: CCW- OTC: CCWOF) CEO Frank Basa and Vice President of Exploration Matthew Halliday joined Steve Darling from Proactive with news the company is seeing very good drill numbers as they continue to explore the Castle East property. Halliday discusses those numbers...

on 12/18/2020

2 min read