eCobalt Announces Renewal of Base Shelf Prospectus

eCobalt Solutions Inc. (“eCobalt” or “the Company”) (TSX:ECS) (OTC:ECSIF) (FRA:ECO) announces that it has filed and obtained a receipt for a preliminary short form base shelf prospectus with the Securities Commissions in each of the provinces of Canada, other than the Province of Quebec.

This is a renewal of the Company’s previous base shelf prospectus, a final receipt for which was obtained on January 12, 2017 and which was effective for a period of 25 months.  Upon the final short form base shelf prospectus (the “Shelf Prospectus”) becoming effective, the Company will, subject to securities regulatory requirements, be allowed to make offerings of up to $100,000,000 of common shares, preference shares, debt securities, warrants, subscription receipts, units, or any combination of such securities (collectively, the “Securities”) during the 25-month period that the Shelf Prospectus is effective. The Securities may be offered separately or together, in amounts, at prices and on terms to be determined based on market conditions at the time of sale and set forth in an accompanying shelf prospectus supplement (“Prospectus Supplement”) and, subject to applicable regulations, may include ‘at-the-market’ transactions, private placements, public offerings or strategic investments.

Unless otherwise specified in a Prospectus Supplement, the net proceeds from the sale of Securities for cash will be used to complete the development of the Idaho Cobalt Project for commercial production and general corporate purposes including working capital, funding ongoing operation and/or capital requirements, reducing the level of indebtedness outstanding from time to time, discretionary capital programs, exploration and development of additional properties or interests (direct or indirect) therein, and potential future acquisitions. Each Prospectus Supplement will contain specific information, if any, concerning the use of proceeds from that sale of Securities.

This news release shall not in any circumstances constitute an offer to sell or a solicitation of an offer to buy, nor shall there be any sale of these securities in any jurisdiction in which an offer, solicitation or sale would be unlawful prior to the registration or qualification under the applicable securities laws of any such jurisdiction.

A copy of the Shelf Prospectus can be found on SEDAR at www.sedar.com.

About eCobalt Solutions Inc.

eCobalt is a Toronto Stock Exchange listed company advancing the Idaho Cobalt Project (“ICP”), the only near-term, environmentally permitted primary cobalt project in the United States. The ICP, located in east-central Idaho in the historic Idaho Cobalt Belt, is 100% owned by the Company’s wholly owned subsidiary, Formation Capital Corporation, U.S. With eCobalt’s significant land position in the Idaho Cobalt Belt, the ICP presents a district-scale opportunity with the potential to become a reliable and transparent source of supply for the growing cobalt market.

For more information visit www.eCobalt.com or contact:
Fiona Grant Leydier
V.P. Corporate Communications
T: +1.604.682.6229 x 206
TF: 1.866.255.9764
E: fgrant@eCobalt.com

Cautionary Statement on Forward Looking Statements

This news release contains “forward-looking statements” within the meaning of applicable Canadian securities legislation. Statements in this news release pertaining feasibility studies, off-take and financing are forward-looking statements. These forward-looking statements are based on assumptions and address future events and conditions and are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking statements. Forward-looking statements are not guarantees of future results, performance or achievement. These risks, uncertainties and factors include general business, economic, competitive, political, regulatory and social uncertainties; actual results of exploration activities and economic evaluations; fluctuations in currency exchange rates; changes in project parameters; changes in costs, including labour, infrastructure, operating and production costs; future prices of cobalt; variations of mineral grade or recovery rates; operating or technical difficulties in connection with exploration, development or mining activities, including the failure of plant, equipment or processes to operate as anticipated; delays in completion of exploration, development or construction activities; changes in government legislation and regulation; the ability to maintain and renew existing licenses and permits or obtain required licenses and permits in a timely manner; the ability to obtain financing on acceptable terms in a timely manner; contests over title to properties; employee relations and shortages of skilled personnel and contractors; the speculative nature of, and the risks involved in, the exploration, development and mining business.

Such projections are and will inevitably always be dependent on assumptions about future mineral prices and development costs which will be subject to fluctuation due to global and local economic and industry conditions. Further information regarding risks and uncertainties which may cause results to differ from those contained in forward-looking statements is included in filings by the Company with securities regulatory authorities and is available at www.sedar.com. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Although the Company has disclosed that the ICP remains the sole, near term, environmentally permitted, primary cobalt deposit in the United States and offers a unique potential for North American consumers to secure an ethically sourced, environmentally sound supply of clean cobalt products, there is no guarantee that the Company will attain commercial production of such cobalt products for use in the rechargeable battery sector. Accordingly, readers should not place undue reliance on forward-looking statements. The Company does not undertake to update any forward-looking statements that are contained herein, except in accordance with applicable securities laws.

The statements contained in this news release in regard to eCobalt that are not purely historical are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including eCobalt’s beliefs, expectations, hopes or intentions regarding the future. All forward-looking statements are made as of the date hereof and are based on information available to eCobalt as of such date. It is important to note that actual outcome and the actual results could differ from those in such forward-looking statements. Factors that could cause actual results to differ materially include risks and uncertainties such as technological, legislative, corporate, commodity price and marketplace changes.

SOURCE eCobalt Solutions Inc.

Click here to connect with eCobalt (TSX:ECS; OTC:ECSIF; FRA:ECO) for an Investor Presentation.

Source: www.newswire.ca