Toronto-headquartered cobalt company First Cobalt has upsized its previously announced nonbrokered private placement to accommodate demand.
The offering increased from 10 715 000 units at C$0.14 a share, for gross proceeds of up to C$1-5-million, to 14 300 000 units at the same price, for C$2-million in proceeds.
The offering is expected to close on February 5, First Cobalt said in a statement on Friday. The company’s stock jumped 7% to C$0.15 a share.