Global Cobalt Corp. Announces Debt Settlement
VANCOUVER, BRITISH COLUMBIA -- (Marketwired) -- 06/26/13 -- GLOBAL COBALT CORP. ("Global Cobalt") (TSX VENTURE: GCO) (the "Company") announces that Erin Chutter, a director and the President and Chief Executive Officer of the Company, agreed to accept shares in lieu of cash for the repayment of a total of $140,000 of debt (the "Debt") owing to her. Ms. Chutter will receive 1,000,000 common shares of the Company at a deemed price of $0.14 per share as payment of the Debt (the "Debt Settlement").
The Debt Settlement is subject to acceptance for filing by the TSX Venture Exchange. All of the common shares to be issued in connection with the Debt Settlement are subject to a four month hold.
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.
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.
Contacts:
Global Cobalt Corp.
Mr. Mitchell Smith
Corporate Development
+1 (604) 688-4219
+1 (604) 688-4215 (FAX)
info@globalcobaltcorp.com
www.GlobalCobaltCorp.com
