PUGET VENTURES INC. (TSX VENTURE:PVS) is pleased to announce that it has formally changed its name to Global Cobalt Corporation and will commence trading its common shares on the TSX Venture Exchange under the new ticker symbol GCO on Tuesday June 4th, 2013.
The Company has elected to maintain its existing listing on the TSXV in the short term to focus its energy and resources on advancing and delineating resources at its projects. Graduation to the senior exchange still remains a corporate objective.
The name change recognizes the Company’s objective of becoming a consolidator of cobalt and strategic metal assets globally and its evolution into an international cobalt exploration and development company with a growing cobalt portfolio in the Altai Republic of Russia.
On May 28th, the Company announced that it has successfully negotiated a new Option Agreement with Imperial Mining Holding Ltd. to acquire on an earn-in basis up to one hundred percent of the Karakul Cobalt Project and four neighbouring cobalt-tungsten and silver assets collectively termed the “Sister Properties.” The new arrangement enables Global Cobalt to emerge to the market in a much shorter time frame, maintain a stronger capital structure, keeping it agile and able to leverage itself for future opportunities, and exercise greater control over a more robust project portfolio.
Erin Chutter, the Company’s President and CEO commented, “We are pleased to have achieved these corporate objectives. This is an extraordinary opportunity for Global Cobalt to establish itself in this strategic region and provide a platform for the next stage of corporate growth.”
Concurrently with these changes, the Company is also pleased to announce the launch of its new website www.globalcobaltcorp.com.
About Puget Ventures Inc. / Global Cobalt Corporation:
Puget Ventures Inc. to be renamed Global Cobalt Corporation is a Canada-based strategic metals company focused on the development of a new mining region in the Republic of Altai. Global Cobalt will build upon the success of the Altai Projects while aggressively expanding and exploring existing properties to meet the demand for cobalt and other strategic metals.
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We acknowledge the [financial] support of the Government of Canada.