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BRIEF-Nomad ventures announces binding letter of intent with Katanga Cobalt Corp

Published 2017-08-16, 03:18 p/m
© Reuters.  BRIEF-Nomad ventures announces binding letter of intent with Katanga Cobalt Corp

Aug 16 (Reuters) - Nomad Ventures Inc NMD.V :

* Nomad Ventures Inc. Announces a binding letter of intent with Katanga Cobalt Corp.

* Will enter share exchange agreement whereby outstanding securities of Katanga to be exchanged for securities of co on a 1:1 basis

* Uupon closing of transaction, it is anticipated that Nomad will change its name to "Bankers Cobalt Corp."

* Upon completion, anticipated that certain of co's current management will resign, representatives of Katanga to manage corporation

* On closing of deal, it is anticipated co will carry on development of Katanga's mineral projects in Democratic Republic of Congo

* Proposed that Stephen Barley to be President, CEO and director, Murray Flanigan to be CFO on closing

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