Cobalt Blockchain Inc. (TSXV:COBC) announced a private placement of 60,000,000 units at a price CAD 0.05 for gross proceeds of up to CAD 3,000,000 on October 10, 2019. Each unit will consist of one common share and one share purchase warrant. Each warrant will entitle the holder to purchase one additional common share at a price CAD 0.20 for a period of two years form date of issuance. The company may close the transaction in multiple tranches. The initial tranche consists of 26,000,000 units to raise CAD 1,300,000 which is unbrokered and subsequent tranche, may or may not be brokered, will be for up to an additional 1,700,000 units. All securities issued in the transaction will be subject to a hold period of four month and one day from their respective dates of issuance.