On August 23, 2019, First Cobalt Corp. entered into a US$5,000,000 loan facility, which can be converted into equity upon election, with Glencore AG to complete advanced engineering, metallurgical testing, field work and permitting associated with a recommissioning and expansion of the First Cobalt Refinery in Canada. Subject to additional terms and conditions, Glencore AG is prepared to advance an additional US$40,000,000.
First Cobalt Corp. is a North American cobalt company that has a principal project, Iron Creek Cobalt Project, in Idaho, USA.
Fasken advised First Cobalt Corp. with a team that included John Turner (M&A/Corporate), Thomas Meagher (Banking & Finance), Myroslav Chwaluk (M&A/Corporate), Dana Gregoire (M&A/Corporate) and George Soules.
