Breaking News: Cameo Cobalt Increases Chilean Land Package by 987%; Expands Chilean Footprint to Two of Three Past Producing Regions

Cameo Cobalt Corp. (OTC: CRUUF) (TSX-V: CRU) is pleased to announce that it has entered into a share exchange agreement (“Share Exchange Agreement”) with Chilean Cobalt Opportunity Corp. (“CCOC”) to acquire 100% of CCOC’s issued and outstanding share capital. CCOC holds an option to acquire a 100% undivided, unencumbered legal and beneficial interest in the Montreal Cobalt Project, located 15 km southwest of Santiago in the past producing Metropolitan Region of Chile.

To satisfy the terms of the Share Exchange Agreement, the Company will issue a total 12,050,000 Common shares (“Shares”) issued at a deemed value of $0.20 per Share and 3,000,000 share purchase warrants (“Warrants”) valid for a period of two years from closing with an exercise price of $0.20, to the shareholders of CCOC to acquire all of the issued and outstanding Shares and Warrants of CCOC presently outstanding.

Upon completion of the Share Exchange Agreement, CCOC shareholders will own approximately 16.16% of the Company’s issued and outstanding share capital. The Company will pay finder’s fees in accordance with the policies of the TSX-V. All securities issued pursuant to the Share Exchange Agreement will be subject to a statutory four-month hold period.

Closing of the Share Exchange Agreement remains subject to TSX-V approval.

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1 Comment
  1. Nelson C. 6 months ago

    strategic acquisitions are important in growth of the company

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