Voltaic Minerals Corp. said Oct. 11 that it entered into a definitive agreement, effective Oct. 5, to purchase all issued and outstanding shares of L2 Cobalt Inc. in exchange for 4.8 million Voltaic shares.

The company is also acquiring 378 highly prospective unpatented lode claims called the Soap Gulch property in Silver Bow County, Montana, which is the major asset of L2 Cobalt.

Voltaic stated that it is possible to discover a cobalt-rich mineral deposit on the property, in which L2 Cobalt holds an option to earn 100% interest.