trending Market Intelligence /marketintelligence/en/news-insights/trending/gu83uhryojd0ktsrev7psw2 content esgSubNav
In This List

CBLT sells 2 Ontario cobalt assets to private Australian company

Blog

Insight Weekly: US stock performance; banks' M&A risk; COVID-19 vaccine makers' earnings

Blog

Insight Weekly: LNG exports surge; investors unfazed by inflation; neobanks drive VC funding

Blog

Essential Metals Mining Insights November 2021

Blog

[Infographic]: 2021 World Exploration Trends


CBLT sells 2 Ontario cobalt assets to private Australian company

CBLT Inc. completed the sale of two noncore cobalt assets in Ontario to private Australian company International Cobalt Resources Ltd. in a cash and shares deal valuing the transaction at A$300,000 plus options.

Consideration for the MacTrack and Dickson assets comprises A$150,000 in cash and A$150,000 of shares, with 500,000 nonlisted options exercisable at 60 cents per share for two years from International Cobalt listing on the ASX, according to a June 11 statement.

CBLT said the deal is its third sale of noncore assets in 2018, which generated nearly C$1 million of value for the company.

The company also said International Cobalt will start working on its listing immediately and plans to acquire additional battery metals assets.

CBLT entered into a binding deal in late 2017 to acquire the MacTrack claims.