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Cobalt 27 raising up to C$130M to buy cobalt streams, royalties

Cobalt 27 Capital Corp. will undertake a private placement with a group of investors to raise gross proceeds of up to C$130 million.

The company will issue up to 11.4 million shares at C$11.40 apiece, it said March 1.

The proceeds will be used by the company to fund the acquisition of cobalt-related streams and royalties, and for general corporate purposes.

The financing is expected to close by March 9.