Primary Cobalt Corp names new chief financial officer

(), the energy metals group, has named  Geoff Balderson as finance chief and director, replacing Ken Phillipe as chief financial officer.

Balderson is the president of Flow Capital Corp and Harmony Corporate Services, two private business consulting companies in Vancouver.

Balderson has been an officer and director of several TSX Venture Exchange-listed companies over the past 12 years, and before that, he was an investment adviser at Union Securities and Georgia Pacific Securities Corp.

"We are very pleased to welcome Geoff to the board, and look forward to his enthusiasm and knowledge of the public markets and financing options to our team," said Patrick Morris, chief executive at Primary Cobalt.

Last week, Primary Cobalt revealed it was set to raise C$3mln via a private placing.

The firm is cancelling a previously announced placing for up to C$750,000 and instead will issue up to 40mln units at C$0.075 each.

Proceeds will be used for the company's exploration programs in Canada and Spain, acquisition costs and for general working capital, it said.

Shares were unchanged at C$0.065.