MQR secures high grade cobalt assets with Co27 Pty Ltd acquisition

Published on: Feb 23, 2018 | by Meagan Evans

Marquee Resources Limited (ASX:MQR) has announced that it has completed the acquisition of Canadian Co27 Pty Ltd. The acquisition delivers MQR interests in three exploration projects located in Canada which are prospective for cobalt.

The deal was completed under the agreements for the Werner Lake Project, the Werner Lake / East Project and the Skeleton Project.

Here are the projects' highlights:

Overall this is an early stage play and as such any investment decision should be made with caution and professional financial advice should be sought.

MQR acquired the business from Syracuse Capital Pty Ltd (Syracuse), Jet Capital Pty Ltd (Jet Capital), Vonross Nominees Pty Ltd (Vonross) and Ninety Three Pty Ltd (Ninety Three) following shareholder approval.

MQR had earlier met with Global Energy Metals Corp. (TSXV:GEMC), the seller of farm-in rights to the Werner Lake Project, to discuss the opportunities presented by the Werner Lake Project and the new alliance between MQR and GEMC.

MQR will issue a total of 11 million shares to Global Energy Metals Corp., the Trustee, Jet Capital, Vonross and Ninety Three will depend on the six-day volume weighted average price of shares (VWAP) from February 21 until 28 February 2018 (inclusive).

The issue of shares is anticipated to occur on or about 1 March 2018.

The company has also announced Mr George Henderson has been appointed as a non-executive Director replacing Mr Jason Bontempo who had previously resigned.