First Cobalt (TSX-V:FCC, OTCQX:FTSSF) Corp CEO Trent Mell joined Steve Darling from Proactive to share news the company has arranged a combined secured convertible debt and brokered equity financing package to finance the construction of its wholly-owned hydrometallurgical refinery located in Ontario, Canada.
Mell telling Proactive, the finding will come from two sources, 37.5 million principal amount of 6.95% senior secured convertible notes led by Cantor Fitzgerald & Co. The other funding source an overnight-marketed public offering of common shares led by BMO Capital Markets (NYSE:BMO) for gross proceeds of approximately C$9.5 million.