Cobalt 27 to acquire over 700t of cobalt at over $36/lb following offering of common shares

Investment vehicle Cobalt 27 will acquire over 700 tonnes of physical cobalt, representing an average price of $36.39 per lb, following an offering of common shares, it said.

The company said in a stock market notification to the Toronto Stock Exchange that it has entered into an agreement with a syndicate of underwriters co-led by TD Securities Inc and Scotiabank to issue 8.1 million common shares on a bought deal basis at an issue price of C$10.50 ($8.19) per common share. This represents total gross proceeds of approximately C$85 million.

The...

Published

Fleur Ritzema

December 08, 2017

12:33 GMT

London