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![Fuse Cobalt Inc.](https://tnw-c.thenewswire.com/data/tnw/clients/logos/AJ6FoyQA.png)
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Each Unit consists of one common share of the Company and one share purchase warrant. Each share purchase warrant entitles the holder thereof to purchase one additional common share of the Company at an exercise price of
The proceeds of the Private Placement will be used for exploration and development and for general working capital purposes.
The Company also paid Finder fees in the amount of
All securities issued in connection with the private placement will be subject to a four‐month and a day hold period expiring on
Insiders of the Company purchased a total of 500,000 units under the Private Placement, which is considered a related party transaction within the meaning of Multilateral Instrument 61-101 Protection of Minority Security Holders in Special Transactions ("MI 61-101"). The Company relied on the exemptions from the valuation and minority shareholder approval requirements of MI 61-101 contained in Sections 5.5(a) and 5.7(a), respectively, of MI 61-101 in respect of such insider participation.
About
Fuse owns a 100% interest its Glencore Bucke Property, situated in
of Fuse’s
On Behalf of the Board of Directors
“Robert Setter”
Neither the
This news release may contain forward-looking statements which include, but are not limited to, comments that involve future events and conditions, which are subject to various risks and uncertainties. Except for statements of historical facts, comments that address resource potential, upcoming work programs, geological interpretations, receipt and security of mineral property titles, availability of funds, and others are forward-looking. Forward-looking statements are not guarantees of future performance and actual results may vary materially from those statements. General business conditions are factors that could cause actual results to vary materially from forward-looking statements.
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