Cobalt Blue: Receives commitments for $3.75M placement
- Green energy technology company Cobalt Blue (COB) has received firm commitments to undertake a $3.75 million placement
- More than 39 million shares will now issued to institutional and professional investors at a price of 9.5 cents each
- This price represents an 18.7 per cent discount to the 10-day volume weighted average price
- The money will also go towards securing a major joint venture partner for the project
- Eligible shareholders will now also offered the opportunity to participate in a share purchase plan with the sum raised yet to announced
- Cobalt Blue has ended the day 16 per cent in the red with shares trading for 10.5 cents each in a $19.99 million market cap
