• Firm commitments received to raise $5.3 million through a placement
• Issue price of $0.09 per share, a 14.3% discount to last traded price
• Proceeds to fund Kwinana Cobalt Refinery, black mass processing, and Broken Hill Cobalt Project

Cobalt Blue Holdings Limited (ASX: COB) has announced that it has received firm commitments to raise $5.3 million (before costs) via a placement to sophisticated and professional investors. The placement involves the issue of 59,144,446 new fully-paid ordinary shares at $0.09 per share, representing a 14.3% discount to COB's last traded price. Each new share will also have a free-attaching unlisted option exercisable at $0.115 per option and expiring on 15 December 2027, subject to shareholder approval. The placement was led by international and domestic institutional investors. The funds raised will be used to progress the Kwinana Cobalt Refinery (KCR) towards a Final Investment Decision, evaluate black mass processing at the Broken Hill Technology Centre, further advance the Broken Hill Cobalt Project, and provide general working capital and corporate costs. The company is pleased to welcome several new highly regarded international institutional investors onto its register and appreciates the confidence of its existing and new shareholders.