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Cruz Cobalt (TSXV:CUZ) has received TSX Venture Exchange approved for its name change to Cruz Cobalt Corp., as previously announced on Feb. 9, 2017. Effective at the open on Feb. 23, 2017, the common shares of Cruz Cobalt will commence trading on the TSX Venture Exchange, and the common shares of Cruz Capital will be delisted. There is no consolidation of capital. The name change was approved by the board of directors on Feb. 2, 2017. Changing the name accurately reflects Cruz’s focus on high-quality, ethically located cobalt assets.
Cruz Cobalt (TSXV:CUZ) has received TSX Venture Exchange approved for its name change to Cruz Cobalt Corp., as previously announced on Feb. 9, 2017. Effective at the open on Feb. 23, 2017, the common shares of Cruz Cobalt will commence trading on the TSX Venture Exchange, and the common shares of Cruz Capital will be delisted. There is no consolidation of capital. The name change was approved by the board of directors on Feb. 2, 2017. Changing the name accurately reflects Cruz’s focus on high-quality, ethically located cobalt assets.
President James Nelson states: “Cruz employed early-mover advantage as we have been able to acquire what we feel is one of the best collections of high-grade cobalt prospects in North America before the majority of the recent cobalt entrants were in the space. Cruz currently has seven cobalt projects located in Canada and one in Idaho. Cruz’s four separate Ontario cobalt prospects are all located in the vicinity of the city of Cobalt. According to government mineral files, the 900-acre Coleman cobalt prospect returned cobalt grades of 13 per cent, the 900-acre Johnson cobalt prospect returned grades of 10.5 per cent cobalt, and the 1,480-acre Bucke cobalt prospect returned cobalt grades of 13 per cent. The 5,500-acre Hector cobalt prospect covers multiple cobalt occurrences. Our War Eagle cobalt prospect in British Columbia covers a past-producing mine as well and returned assays of 6.5 per cent cobalt. Based on these projects, management feels that Cruz has amassed a quality portfolio of cobalt assets that have some of the highest historic cobalt grades in North America, which sets Cruz apart from most cobalt companies in the junior space.
“We feel that 2017 will be a breakout year for cobalt prices as they have just spiked up to new five-year highs up more than 100 per cent in the past 12 months. Cruz is well positioned to take full advantage of this as Cruz has the funds already raised to commence full operations on these projects, with our goal to make Cruz the go-to North American cobalt project generator and developer. The first half of 2017 will be an extremely active period for Cruz, and management is optimistic about what will be discovered by Cruz on our cobalt properties,” states Mr. Nelson.
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