First Cobalt has signed a definitive agreement to acquire all the issued and outstanding shares of US Cobalt for C$149.9m ($116.3m).
A new combined company is slated to be created under the initiative.
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Each current US Cobalt common shareholder will receive 1.5 First Cobalt common shares as part of the transaction.
The existing First Cobalt and US Cobalt shareholders will hold approximately 62.5% and 37.5% stake in the combined company respectively, following the acquisition.
First Cobalt has engaged Canaccord Genuity as financial adviser and Fasken Martineau DuMoulin as legal counsel for the transaction, while US Cobalt has enlisted Fort Capital Partners and Cassels Brock & Blackwell as its financial adviser and legal counsel respectively.
First Cobalt is primarily engaged in the exploration and development of cobalt deposits, while the US Cobalt is focused on cobalt exploration.
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By GlobalDataBoth companies involved in the transaction are based in Canada.
Stina Resources has signed an agreement to acquire Jet Power And Control Systems.
Stina will purchase all the outstanding securities of Jet Power in exchange for six million common shares as part of the agreement.
Stina is engaged in vanadium production, while Jet Power specialises in the manufacturing of dependable power control systems and accessories.
Both companies are based in Canada.
China-based Contemporary Amperex has acquired 36.6 million shares in North American Lithium from Jilin Jien Nickel Industry, representing a 90% stake in the company.
Contemporary Amperex is engaged in the manufacturing of lithium power batteries, while North American Lithium is a mining services provider based in Canada.
MeiDu Energy Corporation has agreed to purchase a 98.5% stake in Shandong Ruifu Lithium Industry for a sum of CNY290.6m ($45.9m).
MeiDu Energy specialises in the trading of minerals, oil and steels, while Shandong Ruifu is engaged in lithium extraction and production.
Both companies involved in the deal are based in China.
