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COB - COBALT BLUE HOLDINGS LIMITED


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not sure how all of this works - type COB in SEARCH, and it still comes up with some other biz (Bendigo exchange listed)

 

Nice ann this morning - >

QUOTE Cobalt Blue is proud to announce a strategic First Mover partnership with LG International (LGI), the resources investment arm of LG Corporation, acting in cooperation with LG Chem.

 

LG Chem is one of the largest lithium ion battery makers in the world. LG Chem possesses strong technical leadership in the development of next generation batteries, in particular for fixed storage and Electric Vehicles (EVs). LG Chem is one of the leading EV battery makers globally.

 

Under the First Mover partnership LG will provide capital and technical assistance for Cobalt Blue to make a high purity battery grade cobalt sulphate.

 

Cobalt Blue has executed a binding term sheet with LGI to raise gross proceeds of US$6.0m with the transaction to be completed by Monday 16 April 2018, subject to the requirements of the ASX Listing Rules and Corporations Act 2001 (Cth). COB will issue shares at A$1.10 per share (representing a 15% premium to the 30-day VWAP of A$0.954) for the number of shares equivalent to the USD/AUD conversion on the day when the funds are received in COB's nominated bank account. A maximum of 14,000,000 shares may be issued, as approved on 25 January 2018 by COB's members

 

PS - wish the moderators would update the COB code/company name changes

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