Cruz Changes Name to Cruz Cobalt Corp.
February 23, 2017 (Source) — Cruz Cobalt Corp. (TSXV: CUZ) (OTC Pink: BKTPF) (FSE: A2AG5M) is pleased to announce that it has received TSX Venture Exchange approved for its name change to Cruz Cobalt Corp., as previously announced on February 9, 2017. Effective at the opening on February 23, 2017, the common shares of Cruz Cobalt Corp. will commence trading on the TSX Venture Exchange and the common shares of Cruz Capital Corp. will be delisted. There is no consolidation of capital. The name change was approved by the Board of Directors on February 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 4 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%, the 900 acre Johnson Cobalt Prospect returned grades of 10.5% cobalt, and the 1480 acre Bucke Cobalt Prospect returned cobalt grades of 13%. The 5500 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% 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 break out year for cobalt prices as they have just spiked up to new 5 year highs up more than 100% 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 President Nelson.
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