NEW YORK, June 06, 2018 (GLOBE NEWSWIRE) -- via NetworkWire — NetworkNewsWire ("NNW"), a multifaceted financial news and publishing company, today announces the publication of an editorial featuring First Cobalt Corp. (TSX.V:FCC) (OTCQX:FTSSF), a client of NNW focused on creating the largest pure-play cobalt exploration and development company in the world.
To view the full publication, titled “Cobalt on Critical List as US Moves toward Mineral Independence,” visit: http://nnw.fm/Mc3DW
The acquisition of an American asset is particularly important, given that Canada is among the companies targeted by recent U.S. mineral tariffs. Gaining US Cobalt’s Iron Creek project in the Idaho Cobalt Belt means that First Cobalt could be a manufacturer of cobalt mined in the United States and, thereby, in a position to potentially benefit from protectionist trade policies rather than being damaged by them. It also means that the company would be producing minerals closer to America’s major hubs of electric vehicle manufacture in areas such as California and Michigan, and so able to easily exploit the rise of electric cars.
With the only permitted cobalt refinery capable of producing battery-grade material in North America, the enlarged company is set to become a leader in North American cobalt. “We foresee a shortage of cobalt over the next five years, yet there are few companies doing significant work to identify new sources of supply,” First Cobalt President and CEO Trent Mell said. “This transaction creates a larger platform to discover and develop cobalt projects for the growing electric vehicle market by combining high quality North American assets in two of the best cobalt jurisdictions outside the DRC.”
About First Cobalt Corp.
First Cobalt aims to create the largest pure-play cobalt exploration and development company in the world. First Cobalt controls over 10,000 hectares of prospective land covering over 50 historic mines as well as mineral processing facilities in the Cobalt Camp in Ontario, Canada. The First Cobalt Refinery is the only permitted facility in North America capable of producing cobalt battery materials. First Cobalt seeks to build shareholder value through new discovery, mineral processing and growth opportunities, with a focus on North America. For more information, visit the company’s website at www.FirstCobalt.com
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Forward-Looking Statements
This release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended. All forward-looking statements are inherently uncertain as they are based on current expectations and assumptions concerning future events or future performance of the company. Readers are cautioned not to place undue reliance on these forward-looking statements, which are only predictions and speak only as of the date hereof. In evaluating such statements, prospective investors should review carefully various risks and uncertainties identified in this release and matters set in the company's SEC filings. These risks and uncertainties could cause the company's actual results to differ materially from those indicated in the forward-looking statements.
Corporate Communications Contact:
NetworkNewsWire (NNW) New York, New York www.NetworkNewsWire.com 212.418.1217 Office Editor@NetworkNewsWire.com
