VANCOUVER, BRITISH COLUMBIA--(Marketwired - Jul 12, 2013) - GLOBAL COBALT CORP. ("Global Cobalt") (TSX VENTURE:GCO) (the "Company") announces that it has issued 1,000,000 common shares of the Company at a deemed price of $0.14 per common share to Erin Chutter, a director and the President and Chief Executive Officer of the Company, in lieu of cash for the repayment of a total of $140,000 of debt owing to her.
The common shares issued are subject to a four-month resale restriction that expires on November 13, 2013.
The Company is also pleased to report that it has signed a six-month Consulting Agreement engaging the services of Mr. Graham Abbott and Mr. Jaime Stallwood, to provide investor relations services to the Company, subject to regulatory approval by the TSX Venture Exchange.
Mr. Stallwood and Mr. Abbott have combined for over 40 years of experience in financial, marketing and private business and have been instrumental in assisting various companies in areas of business development and investor relations.
The contracts have a two-year term at a monthly fee of $5,000 and are renewable at the Company's option. Mr. Abbott currently owns 75,000 common shares of the Company and Mr. Stallwood has no ownership of shares in the Company.
In co-operation with Global Cobalt management, Mr. Stallwood and Mr. Abbott will work to increase the Company's corporate profile, growth strategy, and market awareness with the investment community.
Global Cobalt Corporation:
Global Cobalt Corporation is a Canada-based strategic metals company focused on the development of a new mining region in the Republic of Altai. Global Cobalt will build upon the success of the Altai Projects while aggressively expanding and exploring existing properties to meet the demand for cobalt and other strategic metals.
This news release shall not constitute an offer to sell or the solicitation of any offer to buy, nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful. The shares offered will not be and have not been registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the U.S. Securities Act and applicable state securities laws.
Neither 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.