- The transaction is in line with First Cobalt’s vision for growth via organic and strategic opportunities
- Company will expand its North American assets by gaining access to US Cobalt’s Iron Creek property in Idaho
- The acquisition further cements the company’s status as provider of clean, conflict-free cobalt
The largest landowner in Canada’s prominent Cobalt Camp and a leading explorer for cobalt in the region, First Cobalt Corp. (TSX.V: FCC) (OTCQB: FTSSF) is poised to strengthen its position as a pure-play cobalt company in North America after the friendly acquisition of US Cobalt Inc. (TSX.V: USCO) (OTCQB: USCFF).
Under the agreement, First Cobalt will acquire all of US Cobalt’s issued and outstanding shares at an exchange ratio of 1.5 First Cobalt common shares per each US Cobalt common share, the two companies announced in a joint press release (http://nnw.fm/tW7WS). As part of the transaction, all US Cobalt stock options will be replaced with First Cobalt stock options and all US Cobalt warrants outstanding will participate on…
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