Russian Government Approves Acquistion by Puget Ventures Inc.

- February 24th, 2011

Puget Ventures Inc. (CVE:PVS) reports its approval acquistion by the Russian Government Commission on Monitoring Foreign Investment.

Puget Ventures Inc. (TSXV:PVS) reports its approval acquistion by the Russian Government Commission on Monitoring Foreign Investment.

The press release is quoted as saying:

This approval serves as a significant milestone by Puget Ventures in satisfying an important provision as set out in the terms of the Transaction, which remains subject to Exchange and shareholder approval.

Puget Ventures’ President, Erin Chutter says:

“Receipt of Russian government approval for the proposed transaction is a key milestone toward completion of the Company’s strategic plan to become a global force in the exploration for and development of cobalt and other assets and moves us one step closer to the completion of the Transaction of promising assets in the Russian Federation and Mongolia.” “Global Cobalt will emerge on the markets at a time when the necessity and demand for critical metals, including cobalt, is expected to grow significantly.”

Click here to access the entire news release.

Click here to access Puget Ventures’ company profile.

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