Market Herald logo

Subscribe

Be the first with the news that moves the market
  • Cruz Cobalt (CRUZ) has entered into a share purchase agreement with Las Vegas Lithium Locators Corp. (LVLLC) to acquire a lithium project in Nevada
  • LVLLC, through its wholly-owned subsidiary, owns a 100 per cent interest in the ‘Solar Lithium Project’
  • Cruz Cobalt has agreed to issue seven million common shares at $0.07 per share
  • Cruz Cobalt Corp is focused on acquiring and developing high-grade Cobalt projects
  • Cruz Cobalt currently holds a portfolio of 12 separate projects across North America
  • Cruz Cobalt Corp. (CRUZ) opened trading at C$0.095 per share

Cruz Cobalt (CRUZ) has entered into a share purchase agreement to acquire a lithium project in Nevada.

The drill-ready ‘Solar Lithium Project’ consists of 155 contiguous claims totalling 3,100 acres prospective for lithium. Cruz management plans to immediately apply for a drilling permit and expects to be drilling this project as soon as possible.¬†

Cruz entered into an arm’s length agreement with ‘Las Vegas Lithium Locators Corp.’ (LVLLC) to acquire all the issued and outstanding share capital of LVLLC. Pursuant to the terms of the agreement, Cruz Cobalt has agreed to issue seven million common shares at $0.07 per share.

LVLLC, through its wholly-owned subsidiary, owns a 100 per cent interest in the ‘Solar Lithium Project’.

Jim Nelson, President of Cruz states,

“Cruz is in a unique position to potentially capitalize on both our cobalt and lithium assets. Not only does Cruz have cobalt projects in Ontario & Idaho, we also have a lithium project in the Clayton Valley of Nevada, being one of the few companies that have access to the deepest parts of the only lithium brine basin in production in North America. Recently, energy behemoth Schlumberger, through its strategic partnership with Pure Energy Ltd. began building a lithium brine pilot plant with approximately $30 million USD being spent in developments, directly bordering Cruz’s Clayton Valley lithium project.

Cruz currently has approximately $1.5 million in the treasury, which enables the company to start operations immediately. We are about to come into a major news flow cycle and management remains confident that 2021 will be a transformative year for the company as Cruz has multiple strategically located, and ethically sourced, lithium and cobalt projects in North America.”

Cruz Cobalt Corp is focused on acquiring and developing high-grade Cobalt projects in politically stable, environmentally responsible and ethical mining jurisdictions, essential for the rapidly growing rechargeable battery and renewable energy sectors.

Cruz currently has twelve projects located throughout North America. Cruz’s five separate Ontario projects are all located in the vicinity of the town of Cobalt, making Cruz one of the largest landholders in this historic silver-cobalt-producing district.

Cruz Cobalt Corp. (CRUZ) opened trading at C$0.095 per share.

More From The Market Herald
Superior Gold - Director, Michael Pesner.

" Superior Gold (TSXV:SGI) nominates new director

Superior Gold (SGI) has filed a management information circular for its annual general meeting.

" Sulliden Mining Capital (TSX:SMC) acquires securities of Xander Resources

Sulliden Mining Capital (SMC) acquired 7,142,857 units of Xander Resources in a private placement.

" Eastern Platinum (TSX:ELR) updates technical report on Crocodile River Mine

Eastern Platinum Limited (ELR) has filed a Technical Report on the Crocodile River Mine (CRM), North West Province in South Africa.