- Cruz Cobalt has acquired all of the outstanding common shares of Las Vegas Lithium Locaters Corp. (LVLLC)
- Through this transaction, Cruz has acquired a drill-ready lithium project in Nevada consisting of 155 contiguous claims totalling 3,100 acres
- Cruz management plans to immediately apply for a drilling permit and expects to be drilling as soon as possible
- Cruz is one of the largest landholders in the historic silver-cobalt producing region of Cobalt, Ontario
- Cruz Cobalt Corp. (CRUZ) opened trading at C$0.09 per share
Cruz Cobalt (CRUZ) has acquired all of the outstanding common shares of Las Vegas Lithium Locaters Corp. (LVLLC), a private arm’s length company.
Through this transaction, Cruz has acquired a drill-ready lithium project in Nevada consisting of 155 contiguous claims totalling 3,100 acres prospective for lithium. Cruz management plans to immediately apply for a drilling permit and expects to be drilling this project as soon as possible.
Jim Nelson, President of Cruz commented on the acquisition.
“We are pleased to have closed on this acquisition and are focused on acquiring and developing high quality battery metals projects. Cruz currently has approximately $1.5 million in cash on hand and recently just completed a drill program on our Hector Silver-Cobalt project located in the historic silver-cobalt producing region of Cobalt, Ontario. We plan to drill this new lithium project as soon as possible. Nevada is garnering worldwide attention for lithium production and this new drill ready project complements our existing lithium brine project in Clayton Valley. We are working diligently to increase shareholder value and we are optimistic about the company’s growth potential in the near and long term.”
Cruz Cobalt currently has thirteen projects located throughout North America, including five in Ontario, four in British Columbia, two in Idaho, and two in Nevada. Cruz’s five Ontario projects are all located in the vicinity of the town of Cobalt, making Cruz one of the largest landholders in this historic silver-cobalt-producing district.
Cruz Cobalt Corp. (CRUZ) opened trading at C$0.09 per share.