Cobalt Coal Corp. Announces Proposed Private Placement

Cobalt Coal Corp. (TSXV:CBT) announced its intention to offer a private placement to raise between $6 million and $8 million.

The press release is quoted as saying:

Management has concluded that in order to rectify all impediments to profitability, all of the foregoing funding commitments must be satisfied and therefore a minimum financing condition of approximately $6,000,000 is required, subject to the discretion of management.

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