Pala becomes Cobalt 27’s largest shareholder through $18.95M open market purchase

CPE Media News (2-26-2019) – Pala Investments Limited has disclosed that it has acquired an additional 5,000,000 common shares of Cobalt 27 Capital Corp. (TSX-V: KBLT; OTCQX: CBLLF; FSE: 27O) at prices of $3.65 and $4.00 per common share for an aggregate purchase price of $18,950,000 over the facilities of the TSX Venture Exchange.

Following the share acquisitions, Pala increased its holding to 15,726,582 common shares or approximately 18.54% of the Cobalt 27 outstanding shares, an increase of 5.89%.

In November 2018, Pala acquired 1,300,000 Cobalt 27 shares for an aggregate purchase price of $8,640,000.

With the share purchase, Pala has become the largest shareholder in Cobalt 27, ahead of Harbour Advisors, a business unit of CI Investments Inc., which controls 10.28% of Cobalt 27 shares. Pala and Harbour Advisors are the only two entities with over 10% control of Cobalt 27.

Toronto based Cobalt 27 Capital Corp. is a leading battery metals streaming company offering exposure to metals integral to key technologies of the electric vehicle and energy storage markets. The Company owns physical cobalt and a 32.6% Cobalt Stream on Vale’s world-class Voisey’s Bay mine, beginning in 2021.

photo credit: Cobalt 27

News Release

PALA INCREASES INVESTMENT IN COBALT 27

TORONTO, ONTARIO – February 26, 2018 – Pala Investments Limited (“Pala”), a multi-strategy investment company focused on the mining and metals value chain, announced today it has increased its investment in Cobalt 27 Capital Corp. (TSXV: KBLT) (“Cobalt 27”). Pala has acquired an additional 5,000,000 common shares of Cobalt 27 at prices of $3.65 and $4.00 per common share for an aggregate purchase price of $18,950,000 (or an average of $3.79 per common share) over the facilities of the TSX Venture Exchange.

Immediately prior to the acquisitions, Pala held 10,726,582 common shares representing a security holding percentage of approximately 12.65% (based on 84,815,780 common shares outstanding). Pursuant to the acquisitions, Pala acquired 5,000,000 common shares. Immediately following the acquisitions, Pala holds 15,726,582 common shares representing a security holding percentage of approximately 18.54%, an increase in its security holding percentage of approximately 5.89%.

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.

Pala’s address is 12 Castle Street, St. Helier, Jersey JE2 3RT. For further information please refer to the Early Warning Report posted on SEDAR or contact John Nagulendran at +41 41 560 9070.

About Pala
Pala is an investment company focused exclusively on the mining sector with a strong track record of successful investments and value creation. Pala’s team has extensive experience within the sector and seeks to assist companies in which it has long-term shareholdings by providing strategic advice and innovative solutions in development, production, turnaround and advanced exploration situations. Pala invests across all geographies and in all mining commodities as well as mining services and consumables. For more information, visit www.pala.com.

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