According to Mining News Pro - A non-binding memorandum of understanding has been signed between Canada Cobalt and Global Energy Metals of Vancouver. Global Energy has two cobalt-copper projects in Nevada. Material from the Lovelock mine and Treasure Box property will be treated to confirm recoveries and create a battery grade test product.

Canada Cobalt will supervise the treatment program in order to protect its intellectual property, and will be paid an up-front $200,000 fee, the company’s first revenue stream. Global Energy will pay for sampling and lab work up to a maximum of $100,000.

Canada Cobalt will also subscribe to 2.0 million units of Global Energy at $0.075 each, for a total investment of $150,000.