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Global Cobalt Extends Drop Dead Date for Spin-Out of Global Energy Metals Corporation
Oct. 01, 2015 02:23PM PST
Battery Metals
Global Cobalt Corporation (TSXV:GCO) announced today that Imperial Mining Holding Limited, Global Energy Metals and Global Cobalt have agreed to further amend the Arrangement Agreement by extending the Drop Dead Date, as that term is defined in the Arrangement Agreement, as amended, from September 30, 2015 to October 21, 2015.
Global Cobalt Corporation (TSXV:GCO) announced today that Imperial Mining Holding Limited, Global Energy Metals and Global Cobalt have agreed to further amend the Arrangement Agreement by extending the Drop Dead Date, as that term is defined in the Arrangement Agreement, as amended, from September 30, 2015 to October 21, 2015.
As quoted in the press release:
On August 31, 2015 shareholders of Global Cobalt, amongst other resolutions, voted unanimously in favour of the spin-out and listing of the new company Global Energy Metals as a vehicle to examine other acquisitions in the battery metals space and move forward a strategy to be a bank for these critical assets. The Karakul Cobalt Project located in the Altai Republic, Russia will remain the priority project for Global Cobalt Corporation and given its proximity has the potential of becoming a key supplier for the Chinese cobalt market.
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