Global Cobalt Deploys Drill Rigs to Karakul and Completes $127,602 Financing

Global Cobalt Corp. (TSXV:GCO) has deployed two core drill rigs to the Karakul Cobalt Project in the Altai Republic, Russia. The Company has also completed its non-brokered financing for gross proceeds of approximately $127,602.

As quoted in the press release:

Site preparation is currently underway at Karakul with the expectation that both drill rigs will be in operation by the third week of October.

The Company also wishes to announce that further to its news release dated August 30th, 2013 it has completed its non-brokered private placement of 2,502,000 units at a price of $0.051 per unit for gross proceeds of approximately $127,602 (the “Offering”).

Each unit consists of one common share (“Share”) and one Share purchase warrant (“Warrant”) of the Company. Each Warrant will entitle the holder to acquire one Share (a “Warrant Share”) of the Company at a price of $0.073 per Warrant Share until September 19, 2015.

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