Cruz Capital Corp (CUZ—TSXv, BKTPF—USA, A2AG5M–Germany) has now closed on a share purchase agreement with Cobalt Locaters Inc. The assets of Cobalt Locaters Inc. consist of 6 separate cobalt prospects. 4 are located in Ontario and 2 are in British Columbia. Cruz will now hold 7 separate cobalt prospects in Canada.
Jim Nelson, President of Cruz Capital states, “We are pleased to have closed this acquisition. This now gives Cruz Capital 7 separate cobalt assets within Canada. Management feels that cobalt will receive an increased focus in the future and our corporate goal is to be global leader in this burgeoning sector. Cobalt prices continue to show strength and have just closed at a new 6 month high.”
Cruz Capital currently now has 8,075,582 shares outstanding.
The acquisition terms to acquire Cobalt Locaters Inc were cash of $20,000 and the issuance of 1,600,000 shares of the Company to four arm’s length parties. Cruz’s 2 BC properties are 100% owned and the 4 Ontario prospects are 50%.
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