Pala buys Cobalt 27 for C$501m, creates Nickel 28

Battery metals streaming company Cobalt 27 Capital has agreed to be bought by private equity firm Pala Investments in a deal that values the TSX-V-listed company at C$501-million.

Under the terms of the transaction, announced on Tuesday, Cobalt 27 shareholders would receive C$5.75 a common share, comprising C$3.57 in cash and C$2.18 in shares of a newly listed company to be named Nickel 28 Capital.