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Cobalt Power Group Signs Definitive Agreement With Canadian Cobalt Projects
Cobalt Power Group Signs Definitive Agreement With Canadian Cobalt Projects Canada...
About this update from Power Group Projects Corp.
[{"type":"text","content":"\n\n\n\nCobalt Power Group Signs Definitive Agreement With Canadian Cobalt Projects\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, Nov. 6, 2017\n\n\n\nTSX.V: CPO, Pink Sheets: CBBWF\n\n\n\nVANCOUVER, Nov. 6, 2017 /CNW/ - Cobalt Power Group Inc. (the \"Company\") (TSX.V: CPO, OTC Pink: CBBWF) is pleased to announce that, further to the Letter of Intent (LOI) signed earlier this year (see news release dated July 27, 2017), it has entered into a definitive agreement (\"the Agreement\") with Canadian Cobalt Projects Inc. The Agreement entails the acquisition of five separate blocks of prospective mineral claims encompassing approximately 7,500 hectares located in the Cobalt Camp region of northern Ontario, along with several applications for mineral tenements in historic cobalt mining areas of southern Sweden. The Company has completed the filings with the TSX Venture for approval of the transaction.\n\n\n \n \n\n \nHighlights\n\n\nUpon completion of the acquisition, Cobalt Power will become one of the largest landowners in the prolific Cobalt Camp/Silver Centre region of Ontario, with land holdings totaling approximately 8,700 ha.\nThe claim group is in close proximity to several historic mines, including the former producing Keely and Frontier Mines, and is also near the recently announced First Cobalt/Cobalt One lands.\nThe presence of historical showings on the properties, combined with a favourable geological setting, enhances the exploration potential for the properties. \n\n\"Global supply and demand forces continue to drive the price of cobalt to new yearly highs as additional sources are sought by the energy storage industry,\" comments Dr. Andreas Rompel, President & CEO. \"The acquisition of the Canadian Cobalt Project turns us into one of the leading players in the Ontario Cobalt Camp, a region where major battery makers are beginning to focus their attention.\"\n\nTransaction Details\n\nPursuant to the terms of the Agreement, acquisition of the Properties will be accomplished by Cobalt Power Group acquiring all of the issu...