Cobalt Blockchain Inc. Announces Termination of Negotiations for DRC Cobalt Hydroxide Plant
Peter Copetti, Chairman and CEO of COBC, commented: "We are extremely disappointed that the significant time and effort expended by management on negotiations with Traxys did not result in a concluded transaction for this asset. In light of this development, the board, with the assistance of the recently established Special Advisory Committee, intends to conduct a review of the Company's business plan and strategy and make appropriate adjustments to advance the Company's business."
About Cobalt Blockchain Inc.
Cobalt Blockchain Inc. (TSXV: COBC) is a Canadian resource company expanding its exploration and development business to include cobalt assets in the Democratic Republic of the Congo. The Company believes that it is the first mining and mineral trade company set up specifically to procure cobalt in compliance with the Organisation for Economic Co-operation and Development ("OECD") due diligence framework. COBC has developed and is implementing a blockchain-based reporting platform to provide greater certainty of provenance and further assurance that all minerals procured are ethically-sourced.
For more information on the Company, investors should review the Company's filings at www.sedar.com.
For additional information, please contact:
Peter Copetti, Executive Chairman and CEO
Cobalt Blockchain Inc.
Telephone: +1-416-519-4009
Email: info@cobc.co
Website: www.cobc.co
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.