Cruz Cobalt Corp. (CNSX:CRUZ) entered into a share purchase agreement to acquire 'Solar Lithium Project' in Nevada from Chancellor Corporation and Peter Lafuente for CAD 0.67 million on July 16, 2021. Pursuant to the terms of the Agreement, Cruz Cobalt has agreed to issue 7 million common shares. As a part of the transaction, Chancellor will receive 4.2 million Cruz shares for 60% stake and Peter Lafuente will receive 2.8 million shares for 40% stake. The transaction is subject to, satisfaction on or before the Closing Date. there shall not be in force any order or decree of a court of competent jurisdiction or any Governmental Authority restraining, interfering with or enjoining the consummation of the transactions, all Approvals required for the completion of the transactions contemplated herein shall have been obtained or received from the Persons having jurisdiction in the circumstances, no Governmental Authority shall have enacted any statute, regulation or bylaws or announced any policy that will materially and adversely affect the value of the Claims and the agreement shall not be terminated before closing, a resolution of the board of directors of the Company approving the transfer of the Shares to the Purchaser. The transaction will be mutually terminated if the parties unfulfilled condition precedent contained in this agreement on the part of the other party to be fulfilled before transaction. Cruz Cobalt Corp. (CNSX:CRUZ) completed the acquisition of 'Solar Lithium Project' in Nevada from Chancellor Corporation and Peter Lafuente on July 26, 2021. This share issuance will not result in a change of control.