Cobalt Blockchain Inc. announced that it has signed a letter of intent for a USD 10 million revolving trade finance facility with United Bank for Africa Plc. COBC will be using the trade finance facility for the purposes of purchasing cobalt concentrates once the terms of have been finalized and a definitive agreement is in place. The initial funds will be directed towards the purchase of cobalt concentrates (1% minimum, 3-4% average cobalt) from a key mining cooperative in the Democratic Republic of the Congo (DRC).