TORONTO, ON–(Marketwired – March 06, 2017) – COBALTECH MINING INC. (TSX VENTURE: CSK) (the “Company” or “CobalTech“), announces that it has entered into a debt settlement agreement with TrioResoures AG Inc., a creditor of the Company, to settle an aggregate of $1,356,000 debt owed, in consideration for the issuance of an aggregate of 3,390,000 common shares of the Company (the “Shares“) at a deemed price of $0.40 per Share (the “Debt Settlement“). The Board of Directors and Management of CobalTech believe that the Debt Settlement is in the best interests of the Company as it allows it to preserve its cash position. The issuance of Shares is subject to the approval by the TSX Venture Exchange and, once issued, the Shares will be subject to a 4-month hold period pursuant to all applicable securities laws.
