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Vancouver, British Columbia – (December 18, 2017) – Bankers Cobalt Corp. (TSX Venture: BANC) (the “Corporation” or “Bankers”) is pleased to announce that Kin Communications Inc. (“Kin”) has been engaged to provide investor relations services to the Corporation.
Kin Communications is one of Canada’s leading full-service investor relations firms, based in Vancouver and owned by President & CEO Arlen Hansen. Kin will assist Bankers in increasing public awareness by managing the Corporation’s corporate communications, marketing endeavors, and ongoing engagement with shareholders, finance professionals, and media contacts. For more information, please visit www.kincommunications.com.
Kin will be paid CAD$10,000 per month for a period of 12 months and CAD$10,000 per month on a month to month basis thereafter, and will be granted 400,000 stock options of the Corporation, exercisable at CAD$0.66 per share pursuant to the Corporation’s stock option plan. Additionally, the Corporation will pay a CAD$30,000 initiation fee upon execution of this Agreement to compensate Kin for the preparation of materials relating to Bankers. The options will vest at a rate of 25% per quarter over a 12-month period and will be exercisable for a period of five years. The agreement and the grant of options are subject to regulatory approval. The Corporation has been advised that Kin and its principals own 600,000 common shares and 300,000 share purchase warrants of Bankers.
The Corporation also announces the grant of 7,000,000 incentive stock options to certain of its directors, officers, consultants and employees pursuant to the Corporation’s Stock Option Plan. The options are exercisable for a period of five years at a price of CAD$0.66 per share.
The Corporation proposes to grant 850,000 bonus shares (the “Bonus Shares”) to certain of its directors and officers. The Bonus Shares will be issued in accordance with consulting services agreements as compensation to induce certain directors and officers to join the Corporation.
The issuance of the Bonus Shares is subject to the approval of the TSX Venture Exchange
Kin Communications is Canada’s leading full-service investor relations firm experienced in building research and goal driven campaigns that deliver value for both our clients and investor network. Kin Communications believes in building market value through strategic consultation, financial marketing, brand positioning and targeted investor communications.
Bankers is a natural resource company focused on the acquisition, exploration and development of cobalt and copper mineral properties in the DRC. Bankers holds rights to 14 separate mineral concessions strategically located in the southern DRC Copperbelt and having a total area in excess of 210 km². Bankers has the intention to acquire interests in additional concessions. All concessions were obtained as either new grants or through reputable DRC partners and have clean title with no government involvement, making Bankers one of the few, and perhaps only, junior public mining company in the DRC to have 14 concessions capable of being currently explored and developed. Bankers has an experienced operations team operating in the southern Copperbelt of the DRC. Bankers believes it is one of the front runners in advancing cobalt and copper exploration by a junior mining company in the DRC.
ON BEHALF OF THE BOARD OF BANKERS COBALT CORP.
President & CEO.
For further information:
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This news release contains “forward-looking information” within the meaning of applicable securities laws relating to the proposal to complete the Transaction and associated transactions, including statements regarding the terms and conditions of the Transaction, the proposed closing the Transaction, and the outlook of the business of Katanga, including whether Katanga will be successful in developing and selling mineral resources. Although the Corporation believes in light of the experience of its officers and directors, current conditions and expected future developments and other factors that have been considered appropriate that the expectations reflected in this forward-looking information are reasonable, undue reliance should not be placed on them because the Corporation can give no assurance that they will prove to be correct. Actual results and developments may differ materially from those contemplated by these statements depending on, among other things, the risks that the parties will not proceed with the Transaction and associated transactions, that the ultimate terms of the Transaction and associated transactions will differ from those that currently are contemplated, and that the Transaction and associated transactions will not be successfully completed for any reason (including the failure to obtain the required approvals or clearances from regulatory authorities). The terms and conditions of the Transaction may change based on the Corporation’s due diligence and the receipt of tax, corporate and securities law advice for both the Corporation and Katanga. The statements in this press release are made as of the date of this release. The Corporation undertakes no obligation to comment on analyses, expectations or statements made by third-parties in respect of the Corporation, Katanga, their securities, or their respective financial or operating results (as applicable).