Oct 19 (Reuters) - Us Cobalt Inc USCO.V :
* US Cobalt announces $5 million bought private placement
* Us cobalt Inc - entered into a letter of engagement with Eight Capital
* US Cobalt Inc - Eight Capital has agreed to purchase 9.4 million units of company, on a "bought deal" private placement basis at a price per unit of $0.53
* US Cobalt Inc - intends to use net proceeds of offering for exploration and development of cobalt deposits