Global Cobalt Corporation (TSXV:GCO) announced a non-brokered private placement of up to 5,000,000 units at a price of CAD 0.05 per unit for gross proceeds of up to CAD 250,000 on April 27, 2015. Each unit consists of one common share and one warrant. Each warrant will entitle the holder to purchase one additional common share of the company at an exercise price of CAD 0.07 per share for a period of 24 months from the closing date.

The company may pay finder's fees to arm's-length third parties consisting of up to 8% of the gross proceeds and will issue broker warrants in an amount up to 8% of the total number of units. Each broker warrant will entitle the holder to purchase one unit of the company at a price of CAD 0.07 per unit at any time at any time up until the broker warrant expiry. All securities to be issued will be subject to a hold period of four months and one day following the issue date, under applicable Canadian securities legislation.

The transaction is subject to TSX Venture Exchange approval. The transaction is expected to close on or about May 1, 2015.