The following news came out today on a deal negotiated earlier. When negotiated they paid $4.5m, $1.5m in stock and 422k shares. At today's price that compares to an acquisition price of only US$2.743m. They have cut a lot of deals and raised money at higher share prices. They are well position when cobalt, nickel and their other metal prices start rising and the outlook is generally favorable.
TORONTO, Jan. 18, 2019 /PRNewswire/ - Cobalt 27 Capital Corp. ("Cobalt 27" or the "Company") (TSXV: KBLT)(OTCQX: CBLLF)(FRA: 27O), a battery metals streaming and royalty company offering direct exposure to metals integral to electric vehicles and energy storage systems, today announced the closing of the acquisition of previously announced royalties, including a 1.5% Gross Revenue Royalty ("GRR") on the Flemington Cobalt-Scandium-Nickel Project, and a 1.7% GRR on the fully permitted and construction-ready Nyngan Scandium Project, located in Australia (see news release dated May 7, 2018).
Cobalt 27 acquired the Flemington and Nyngan royalties from Jervois Mining Limited for total consideration of US$4.5 million, comprised of US$1.5 million in cash and 422,856 common shares of the Company which shares will be subject to a four month hold period from the date of issuance in accordance with applicable Canadian securities laws.