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BRIEF-Anson Funds To Vote Against Cobalt 27 And Pala Deal

Published 2019-07-08, 12:16 p/m
© Reuters.  BRIEF-Anson Funds To Vote Against Cobalt 27 And Pala Deal

July 8 (Reuters) - ANSON FUNDS:

* ANSON FUNDS COMMENTS ON COBALT 27 - PALA TRANSACTION

* BELIEVES CURRENT PROPOSAL "HIGHLY UNLIKELY" TO RECEIVE NECESSARY "MAJORITY OF MINORITY" SHAREHOLDER APPROVAL

* INTENDS TO VOTE AGAINST COBALT 27 - PALA TRANSACTION

* ESTIMATES COBALT 27'S VB STREAM HAS NET ASSET VALUE OF $250 MILLION AT 5 YEAR AVERAGE OF COBALT PRICES OF ABOUT $20/LB

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