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Nomad Ventures rebrands as Bankers Cobalt, acquiring DRC cobalt miner

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Nomad Ventures rebrands as Bankers Cobalt, acquiring DRC cobalt miner

Nomad Ventures Inc. changed its name to Bankers Cobalt Corp. and its shares started trading on the TSX Venture Exchange on Oct. 12 under the new symbol BANC.

Meanwhile, a wholly-owned subsidiary of Bankers Cobalt entered into a definitive agreement to acquire Katanga Cobalt Corp., offering Katanga 1 share of the company against each share held.

The parties signed a letter of intent in August for the deal.

Katanga will seek shareholders' approval for the transaction at an Oct. 17 meeting, with closing expected this month.

Upon completion of the deal, the resulting company will become a wholly owned subsidiary of Bankers Cobalt and will continue with the exploration and development of Katanga's mineral projects in the Democratic Republic of the Congo.