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Pacific Rim Cobalt completes $3.6M 1st tranche of private placement

News Release

Pacific Rim Cobalt Closes $3.6 Million, First Tranche of Private Placement

NOT FOR DISSEMINATION IN THE UNITED STATES OR THROUGH UNITED STATES NEWSWIRE SERVICES

VANCOUVER, British Columbia, Dec. 22, 2017 — Pacific Rim Cobalt Corp. (the “Company” or “Pacific Rim Cobalt”) (CSE:BOLT) (FRANKFURT:NXFE) announces that the Company completed the first tranche of a non-brokered private placement (the “Offering”) generating gross proceeds of $3,601,202, through the issuance of 4,801,602 units (each a “Unit”) at $0.75 per Unit.

Each Unit entitles the holder to receive one common share of the Company (each a “Common Share”) plus one transferable share purchase warrant, each warrant (a “Warrant”) entitling the holder to acquire one common share of the Company at an exercise price of $1.00 per share until December 22, 2019, subject to accelerated expiry provisions whereby if the closing price of the Company’s common shares exceeds $1.50 per share for a period of 20 consecutive trading days, at the Company’s election, the 24 month period within which the Warrants are exercisable will be reduced and the holders of the Warrants must exercise their Warrants within a period of 30 days commencing on the day the Company provides notice of same.

The Company paid cash commission on certain subscriptions of 7.0% and issued broker warrants on certain subscriptions equal to 7.0% the number of Units sold, payable to registrants. Each broker warrant has the same terms as the Warrants, but are non-transferable.

The Company completed a portion of the Offering under BC Instrument 45-536 Exemption from prospectus requirement for certain distributions through an investment dealer and the corresponding instruments, orders and rules in other participating jurisdictions.

The net proceeds of the Offering will be used to fund development of the TNM cobalt property, and for general working capital purposes during the ensuing twelve-month period.

The securities issued pursuant to the Offering bear a “hold period” expiring four months and a day from closing in accordance with applicable securities laws.

About Pacific Rim Cobalt

Pacific Rim Cobalt is a Canadian-based exploration company focused on the acquisition and development of production grade cobalt deposits, a key raw material input for the growing lithium-ion battery industry.

Pacific Rim Cobalt Corp.
Ranjeet Sundher – President and CEO
(604) 922-8272
rsundher@pacificrimcobalt.com

Steve Vanry – CFO & Director
(604) 922-8272
steve@vanrycap.com

Sean Bromley – Director & Investor Contact
(778) 985-8934
sean@theparmargroup.com

Neither the Canadian Securities Exchange nor the Investment Industry Regulatory Organization of Canada accepts responsibility for the adequacy or accuracy of this release.

TM Newsdesk
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