Canada Silver Cobalt Works Inc. entered into a non-binding letter of intent to acquire Cobalt Area Properties Located in Coleman, Bucke and Lorrain Townships in Ontario from Power Group Projects Corp..

Canada Silver Cobalt Works Inc. (TSXV:CCW) entered into a non-binding letter of intent to acquire Cobalt Area Properties Located in Coleman, Bucke and Lorrain Townships in Ontario from Power Group Projects Corp. (TSXV:PGP) on April 20, 2022. The transaction is subject to 2% NSR in specific PGP properties and the data related to the property subject to a payment of CAD 0.08 million cash and the issuance of 300,000 shares of Canada Silver to PGP upon closing the transaction.

The transaction is subject to a 90-day exclusivity, due diligence period and TSX Venture Exchange acceptance.