Cruz Cobalt closes private placement; welcomes President Trump's call to use domestic battery metals

Cruz currently has nine cobalt projects located throughout North America, comprising four in Ontario, three in British Columbia, one in Idaho and one in Montana
President Trump
President Trump wants to avoid foreign imports of battery metals

Cruz Cobalt Corp (CVE:CUZ) has closed a non-brokered private placement, raising C$450,000.

The cobalt project developer placed 2mln units at 22.5 a pop; each unit consists of one common share and one transferable share purchase warrant, exercisable at 30 cents per share for a period of two years.

"We are very pleased to be able to close this placement in such a short period of time,” said James Nelson, the president of Cruz.

“The demand for cobalt globally has never been higher. Yesterday President Trump announced that the USA wants to source domestic battery metals such as lithium and cobalt and avoid foreign imports. This is a very positive step as Cruz has projects in Canada as well as in Idaho and Montana. We plan to be active on both of the USA Cobalt projects in 2018. We are very optimistic about 2018 as we leave 2017 with more cash in the bank than any other time and cobalt prices at nine year highs," he added.

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Cruz Cobalt Corp. Timeline

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