Cobalt Blue Holdings Limited: Entitlement Issue and Presentation

Sydney, Australia - Cobalt Blue Holdings Ltd. (ASX:COB) (FRA:COH) (OTCMKTS:CBBHF) is pleased to announce a pro-rata non-renounceable rights issue (Entitlement Issue) to raise up to $6.08 million (before costs) at a price of $0.072 (7.2 cents) (Offer Price) per new fully paid ordinary share in the Company (New Share), on the basis of 1 new Share for every 5 shares (Entitlement) held as at 7.00 pm (Sydney time) on 21 November 2024, Sydney time (Record Date).

The issue price of $0.072 per Share represents a 10% discount to the closing Share price of 8.0 cents on 15 November 2024 and between 20-23% to the 10 and 15-day VWAP, respectively (as of 15 November 2024).

Entitlement Issue

The Entitlement Issue will open on Tuesday, 26 November 2024 and is expected to close on Thursday, 12 December 2024 (Closing Date). Settlement of the New Shares issued under the Entitlement Issue is expected to occur on Wednesday, 16 December 2024.

Further details of the Entitlement Issue will be provided to eligible shareholders in the offer booklet (Offer Booklet), expected to be despatched or made available to shareholders on Tuesday, 26 November 2024.

New Shares issued under the Entitlement Issue will rank equally with the existing Shares then on issue. The Entitlement Issue is not underwritten. Blue Ocean Equities Pty Ltd has been appointed as Lead Manager to the Entitlement Issue.

Eligible Shareholders

All Shareholders on the Company's share register at the Record Date and whose registered address is in Australia and New Zealand (Eligible Shareholders) will be entitled to participate in the Entitlement Issue.

Eligible Shareholders can choose to take up all, part or none of their Entitlement.

The Entitlement Issue will allow Eligible Shareholders to take up New Shares proportional to their shareholding and mitigate the effect of dilution. Eligible Shareholders who do not take up their Entitlement under the Entitlement Issue in whole or in part will not receive any value in respect of those Entitlements not taken up. The Entitlement is non-renounceable and cannot be traded on ASX or any other exchange, nor can it be privately transferred.

Eligible Shareholders wishing to participate in the Entitlement Issue should carefully read the Offer Booklet and accompanying personalised Entitlement and Acceptance Form which contains their Entitlement and the terms and conditions of the Entitlement Issue. The Offer Booklet will also be available on the ASX website (www.asx.com.au) from 26 November 2024.

Shortfall

The Entitlement Issue includes a facility under which Eligible Shareholders that have taken up their full Entitlement under the Entitlement Issue can apply to take up additional New Shares in excess of their pro rata Entitlement (Top-Up Facility). Applications under the Top-Up Facility will only be considered to the extent there is a shortfall under the Entitlement Issue.

Directors then reserve the right to place any shortfall shares at their discretion within 3 months of the Closing Date at a price not less than the Offer Price.

To view the Capital Raising Presentation, please visit:
https://www.abnnewswire.net/lnk/6897T4VP

About Cobalt Blue Holdings Limited:

Cobalt Blue Holdings Ltd (ASX:COB) (FRA:COH) (OTCMKTS:CBBHF) has a strategic approach that positions us to be among the first wave of new entrants into the allied battery materials supply chain. We are committed to playing a leading role in securing a stable and sustainable future for critical minerals.

Source:
Cobalt Blue Holdings Limited

Contact:

Joe Kaderavek Chief Executive Officer info@cobaltblueholdings.com P: (02) 8287 0660