Cruz Corporate Update
October 26, 2016 (Source) — Cruz Capital Corp (TSXV: CUZ) (OTC Pink: BKTPF) (FSE: BRO2) is pleased to announce that company representatives will be presenting at the New Orleans Investment Conference held at the Hilton New Orleans October 26-29th. The New Orleans Conference has had a long tradition of gathering some of the most influential people in the investment community, and brings together many high net worth investors and fund managers. This year “O’Rourke, Grant, Krauthammer, Faber, Schiff, Moore, Altucher, Larson, Gartman, Casey, Rule” will be speaking at the show as well. Management is excited to be afforded the opportunity to present at this prestigious show.
Cruz recently increased the size of its Bucke Cobalt Prospect in the Larder Lake mining division of Ontario. According to Province of Ontario Mineral file MDl31M05NE00117, the property returned assays grading 13% COBALT and 240 g/t SILVER on this cobalt-focused prospect. Management expects to commence exploration on this property shortly, utilizing the flow through funds already on hand to fully assess this property. The Bucke Cobalt Prospect is one of 4 cobalt prospects in Ontario currently held by Cruz.
Cruz President, James Nelson, stated, “We are very pleased to be presenting at the New Orleans Show. We are extremely optimistic about the future of cobalt and feel that Cruz is at the forefront of this pending boom. Cruz currently has 8 cobalt projects across North America as we only look to work in politically stable and ethical jurisdictions.
We also plan to FORWARD split the shares in mid-November. Cruz is coming into a very active time on our projects while cobalt prices are making 6 month highs. With cobalt being a key mineral in lithium-ion batteries, and world demand rising for this market, we anticipate cobalt prices to increase given no new cobalt mines have come into production in the last 45 years in North America, thus giving Cruz a distinct advantage being a first mover into the space.”
Cruz is also proposing a Forward Split subject to acceptance by the TSX Venture Exchange. The ratio being proposed will be 3:1. For example, this means that if you are shareholder of record of 10,000 shares you would then hold 30,000 shares upon completion and approval of the split. Subject to such approval, the Company anticipates the record date to be approximately November 14. An announcement will be made once the final date has been confirmed by the exchange. Management feels that this split will be a positive event for the company as this will create greater liquidity for the shareholders, thus enabling a more transparent and consistent market.
Cruz is actively engaged in acquiring and developing Cobalt assets globally and has already acquired several high-grade cobalt projects across North America. Seven cobalt projects are located in Canada and one in Idaho. The goal of the company is to make Cruz the foremost cobalt project generator and developer on the TSX Venture Exchange. Management feels that cobalt is at the early stages of a significant bull market and we are pleased to be positioning Cruz at the forefront of this cycle.
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The technical contents of this release were approved by Greg Thomson, PGeo, a qualified person as defined by National Instrument 43-101. The property has not been the subject of a National Instrument 43-101 report.
Cruz has also granted 50,000 incentive stock options to directors, officers and consultants at an exercise price of .63 cents per share for six months. The options have been granted in accordance with the company’s stock option plan.
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