Pala Investments, an investment company focused on the mining and metals value chain, has increased its investment in Cobalt 27 Capital.
Image: Cobalt, fraction of a cathode, 2 x 2 cm. Photo courtesy of Jurii/Wikipedia.
Pala has acquired an additional 1,300,000 common shares of Cobalt 27 at prices of $6.60 and $6.70 per common share for an aggregate purchase price of $8,640,000 over the facilities of the TSX.
Immediately prior to the acquisitions, Pala held 8,476,582 common shares representing a securityholding percentage of approximately 9.99% (based on 84,815,780 common shares outstanding).
Pursuant to the acquisitions, Pala acquired 1,300,000 common shares. Immediately following the acquisitions, Pala holds 9,776,582 common shares representing a securityholding percentage of approximately 11.53%, an increase in its security holding percentage of approximately 1.53%.
Pala has acquired these securities for investment purposes and may increase or decrease the investment in the securities of Cobalt 27 or pursue certain other actions depending on its evaluation of the business, prospects and financial condition of Cobalt 27, the market for Cobalt 27’s securities, general economic and tax conditions and other factors.
All monetary amounts are stated in Canadian dollars.
Source: Company Press Release