Fuse Cobalt Raises $437,642 through Exercised Warrants
Vancouver, July 16, 2020 - Fuse Cobalt Inc. ("the Company" or "Fuse") (TSXV:FUSE) (OTC:FUSEF) (FRA:43W3) ") is pleased to announce that since the end of May, 2020 the Company has received $437,642 as a result of the exercise of 12,409,832 (post-split) share purchase warrants. The warrants were issued in connection with private placements and had exercises prices of $0.025 and $0.045 (post-split) per share. The Company intends to use the proceeds for exploration and development and general working capital purposes.
About Fuse Cobalt Inc. www.fusecobalt.com
Fuse Cobalt Inc. is a Canadian based exploration company that trades under the symbol FUSE on the TSX Venture Exchange. The Company's focus is on exploration for high value metals required for the manufacturing of batteries.
Ontario Cobalt Properties: Fuse owns a 100% interest its Glencore Bucke Property, situated in Bucke Township, 6 km east-northeast of Cobalt, Ontario, subject to a back-in provision, production royalty and off-take agreement. The Glencore Bucke Property consists of 16.2 hectares and sits along the west boundary of Fuse's Teledyne Cobalt Project. The Company also owns a 100% interest, subject to a royalty, in the Teledyne Project which consists of 785 hectares of land and is also located near Cobalt, Ontario. The Teledyne Property adjoins the south and west boundaries of claims that hosted the Agaunico Mine, a former producer of both silver and cobalt.
Teels Marsh Property Fuse owns a 100% interest in 100 claims covering 2000 acres (809 hectares) in Teels Marsh, Nevada; The property called Teels Marsh West is highly prospective for Lithium brines and is located approximately 48 miles northwest of Clayton Valley and the Rockwood Lithium Mine, North America's only producing brine-based Lithium mine supporting lithium production since 1967.
On Behalf of the Board of Directors
"Robert Setter"
Robert Setter, President &CEO
Neither the 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.
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.