Global Cobalt Announces Shares for Debt Settlement with Chief Financial Officer - Spokane, North Idaho News & Weather KHQ.com

Global Cobalt Announces Shares for Debt Settlement with Chief Financial Officer

Posted: Updated:

VANCOUVER, BC (FEBRUARY 18th, 2014)…GLOBAL COBALT CORP. (TSXV:GCO) ("Global Cobalt" and/or the "Company") (TSXV:GCO) announces that the Company’s Chief Financial Officer, Mr. Chris Couzelis has agreed to accept shares in lieu of cash for the repayment of outstanding fees totaling $42,000 of services (the "Services") owed to him.

As payment for the Services (the "Service Settlement"), Mr. Couzelis will receive a total of 280,000 common shares of the Company at $0.15 per share, a twenty percent premium to the closing price on February 14th, 2014.

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.

The Service Settlement is subject to the acceptance of the TSX Venture Exchange.

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; 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.

ReleaseID: 412049

  • Most Popular StoriesMost Popular StoriesMore>>

  • Fatal Crash Early Friday Morning On S. Bowdish Rd.

    Fatal Crash Early Friday Morning On S. Bowdish Rd.

    Friday, April 18 2014 10:11 AM EDT2014-04-18 14:11:50 GMT
    SPOKANE, Wash. - Just before 12:30 early Friday morning a man was killed after a crashing his car on S. Bowdish Rd. The man was traveling South on Bowdish near 17th when he lost control of his car, uprooting a tree in the front yard of a home. The man killed was in his 30's but authorities are not identifying him until his family has been notified.>>
    SPOKANE, Wash. - Just before 12:30 early Friday morning a man was killed after a crashing his car on S. Bowdish Rd. The man was traveling South on Bowdish near 17th when he lost control of his car, uprooting a tree in the front yard of a home. The man killed was in his 30's but authorities are not identifying him until his family has been notified.
    >>
  • LOOK: Latest Photos Of Sex Offenders Living In Our Area

    LOOK: Latest Photos Of Sex Offenders Living In Our Area

    Saturday, February 15 2014 12:56 AM EST2014-02-15 05:56:26 GMT
    KHQ.COM - Do you know if there are sex offenders living near you? Spokane County Sheriff's Office have a website where you can check if there are sex offenders in your area. Here are all of the registered sex offenders with the Spokane County Sheriff's Office.>>
    KHQ.COM - Do you know if there are sex offenders living near you? Spokane County Sheriff's Office have a website where you can check if there are sex offenders in your area. Here are all of the registered sex offenders with the Spokane County Sheriff's Office. LOOK AT ALL OF THE PHOTOS INSIDE OF THE STORY>>>>>
  • 3rd N. Spokane Fast Food Robbery In Three Days

    3rd N. Spokane Fast Food Robbery In Three Days

    Friday, April 18 2014 1:15 AM EDT2014-04-18 05:15:21 GMT
    SPOKANE, Wash.- Spokane Police tell us they have taken two people of interest into custody following a robbery at the Shadle Park McDonald's. It's the third fast food restaurant robbery in the Spokane area in the last three days. The robbery happened at about 6 p.m. Thursday at the McDonald's near N. Belt St. and W. Wellesley Ave.>>
    SPOKANE, Wash.- Spokane Police tell us they have taken two people of interest into custody following a robbery at the Shadle Park McDonald's. It's the third fast food restaurant robbery in the Spokane area in the last three days. The robbery happened at about 6 p.m. Thursday at the McDonald's near N. Belt St. and W. Wellesley Ave.>>