Cruz Battery Metals Corp (BKTPF)

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Cruz Cobalt Closes Private Placement

CUZ:TSX.v | BKTPF:USA | A2AMG8:Germany


Cruz Cobalt Closes Private Placement

Cruz Cobalt Corp. (CUZ—TSXv, BKTPF—OTCBB, A2DMG8--FSE) Cruz Cobalt Corp. ("Cruz" or the "Company") has closed a non-brokered private placement consisting of 2,000,000 units at 22.5 cents per unit for gross proceeds of $450,000. Each unit consists of one common share of the Company and one transferable share purchase warrant, exercisable at 30 cents per share for a period of two years. There is no finders' fee for this private placement. Proceeds will be used towards the Company's working capital. Cruz filed a price reservation form with the TSX Venture Exchange on December 6, 2017.

James Nelson, President of Cruz states, “We are very pleased to be able to close this placement in such a short period of time. 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.”