Azincourt Energy Corp. signed a nonbinding letter of intent to acquire the cobalt-prospective BullRun erythrite project in Ontario from BullRun Capital Inc.
The company will issue 1.0 million common shares for the 652-acre project.
Azincourt President and CEO Alex Klenman said the company is also looking at other potential projects for acquisition in the "clean energy space."
"We haven't filled our want list yet," Klenman said.
