Tyranna Resources {ASX: TYX}

Has signed an agreement with US Cobalt to acquire the Goodsprings cobalt and base metals project in Nevada, USA.

The transaction is a continuation to the option agreement entered by Tyranna in March to acquire the project. As part of the agreement TYX has issued 141 million shares and 30 million options.

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Tyranna Resources {ASX: TYX} has signed an agreement with US Cobalt to acquire the Goodsprings cobalt and base metals project in Nevada, USA.

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The transaction is a continuation to the option agreement entered by Tyranna in March to acquire the project.

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Tyranna has made a $100,000 payment as part of the exclusive option agreement and has agreed to issue 141.17 million ordinary shares priced at $0.017 a share. The company has also agreed to issue 10 and 20 million options, respectively, to its strategic and technical advisers Greg Smith and US Cobalt director Paul Lloyd.

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The acquisition is part of Tyranna’s diversification strategy and expected to enhance the company’s value as a diversified resources exploration and development company.

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