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Cobalt Power Group Announces Share Consolidation and Name Change
Cobalt Power Group Announces Share Consolidation and Name Change Canada NewsWire ...
About this update from Power Group Projects Corp.
[{"type":"text","content":"\n\n\n\nCobalt Power Group Announces Share Consolidation and Name Change\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n\n\n\n\n\n\n\nCanada NewsWire\nTORONTO, Nov. 23, 2018\n\n\n\nTSX.V  CPO, Pink Sheets CBBWF   \n TORONTO, Nov. 23, 2018 /CNW/ - Cobalt Power Group Inc. (the \"Company\") (TSX.V CPO, OTC Pink CBBWF) wishes to announce its intention to proceed with a share consolidation (the \"Share Consolidation\") of its issued and outstanding common shares. There are currently 158,605,628 common shares issued and outstanding. Shareholders will receive one (I) post consolidation common share for every twelve (12) pre-consolidation common shares held by them. The company name will change to Power Group Projects Corp.\n\n \n \n\n \nThe Board of Directors of the Company believes that the consolidation of shares will enhance the company's ability to seek and attract additional funding and to pursue strategic acquisitions and other growth opportunities. In the meantime, the Company is continuing to evaluate its portfolio of Cobalt assets and planning future exploration work on these properties.\nThe Board wishes to reassure its shareholders that it has adequate funds available to maintain the properties for the next two years and if warranted to move forward to add value to these properties. \nThe Consolidation will be subject to at the approval of the TSX Venture Exchange \nAbout Cobalt Power Group Inc. \nCobalt Power Group Inc. is a publicly traded Canadian exploration company listed on the TSX-Venture Exchange and U.S. Pink Sheets (TSXV CPO, OTC Pink CBBWF) focused on cobalt exploration and development. The Company has made a series of strategic property acquisitions over the past two years seeking cobalt mineralization near Cobalt, Ontario, a region with a long history of silver and associated cobalt production, and now in the Athabasca basin of Saskatchewan. Property holdings total approximately 13,264 hectares (32,776 acres) in Ontario and 20,130 hectares (49,742 acres) in Saskatchewan, in contiguous and strategic claim blocks. There are several historic mining...