Pala-backed Cobalt 27 to buy Highlands Pacific for $96 mln

Cobalt 27 Capital Corp (TSX-V: KBLT) has agreed to acquire all of the shares it does not already own in Highlands Pacific Ltd (ASX: HIG), a Brisbane, Australia-based mining and exploration company. The deal is valued at $96 million. It is expected to close in Q2 2019. Highlands' primary assets include a 8.56 percent stake in the Ramu nickel-cobalt mine located in Papua New Guinea. Cobalt 27, a Toronto-based electric metals investment vehicle, said the acquisition will increase its exposure to nickel and cobalt production. Cobalt 27 is backed by Swiss mining private equity firm Pala Investments.

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