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Cobalt Power Group Closes Canadian Cobalt Project Acquisition
Cobalt Power Group Closes Canadian Cobalt Project Acquisition Canada NewsWire VA...
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[{"type":"text","content":"\n\n\n\nCobalt Power Group Closes Canadian Cobalt Project Acquisition\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\nVANCOUVER, Dec. 4, 2017\n\n\n\nTSX.V: CPO, Pink Sheets: CBBWF \n\n\n\nVANCOUVER, Dec. 4, 2017 /CNW/ - Cobalt Power Group Inc. (the \"Company\") (TSX.V: CPO, OTC Pink: CBBWF) is pleased to announce that the TSX Venture Exchange has accepted for filing a share purchase agreement dated Oct. 23, 2017, between Cobalt Power Group Inc., Canadian Cobalt Projects Inc. (the vendor) and all of the shareholders of Canadian Cobalt. Cobalt Power has agreed to purchase all of the issued and outstanding common shares in the capital of Canadian Cobalt, which is the registered holder of 33 mineral claims located in the South Lorrain Township, Ontario. Consideration is 29.95 million common shares of the company. Under the agreement, a 1.5-per-cent net smelter royalty will be granted, on a pro rata basis, to the shareholders of Canadian Cobalt.\n\n\n \n \n\n \nHighlights:\n\n\nAcquisition is comprised of approximately 7,500 ha of strategically located mining claims in the Silver Center area of the Cobalt Camp, Ontario. \nWith the addition of this land package, Cobalt Power becomes one of the largest landowners in the prolific Cobalt and Silver Center camps, holding over 8,700 ha. First Cobalt, Cobaltech, and Cobalt One announced a merger earlier this year resulting in a land package slightly larger than Cobalt Power's at approximately 10,000 ha.\nThe Canadian Cobalt Project land package is contiguous with, or within close proximity to, the recently announced First Cobalt/Cobalt One lands and has a similar geological setting.  \nThe claim group includes the historic Silver Eagle Mine and lies near several past producing mines, including the Keely and Frontier (held by First Cobalt), in the South Lorrain Township, Ontario. The Silver Eagle Mine (which operated around 1918) produced 8,000 ounces of silver from a 6-meter section of mine workings that crossed the property from the adjacent Wettlaufer Mine (cobalt was not recovered, as was typical for ...