Australia's Krakatoa Resources hits over 2-mth high on deal with Canadian firm

CBLT

05/04/2018 03:42

** Metals explorer Krakatoa Resources  KTA.AX  rises as much
as 25 pct to A$0.05, highest since Jan 30
    ** Co enters into agreement with Canada-listed CBLT Inc
 CBLT.V  to acquire two cobalt-silver blocks in Ontario
 urn:newsml:reuters.com:*:nFWN1RH0NM
    ** Co to raise A$525,000 (about $404,618) by issuing 15 mln
shares at $0.035 per share to fund the acquisition
    ** Stock, which was on trading halt since Tuesday pending
the announcement, posts biggest intraday pct gain in six weeks
 urn:newsml:reuters.com:*:nFWN1RF0GN
    ** Sees busiest trading session since Dec. 20, 2017, with
about 1.9 mln shares changing hands, compared with the 30-day
average of 106,941 shares



($1 = 1.2975 Australian dollars)

 (Reuters Messaging: shanima.a.thomsonreuters.com@reuters.net)