On October 1, 2019, Cobalt 27 Capital Corp. and Pala Investments Limited announced that they have entered into an amendment to their previously announced arrangement agreement which provides for the acquisition by Pala Investments of 100% of the Company's issued and outstanding common shares, other than the approximately 19% that Pala Investments already owns. The Company stated that cash portion of acquisition price increased to C$4.00 per share from C$3.57 per share, representing an additional C$30 million of cash consideration. The Company also stated that a reduction in the cash change of control payments for management under their existing entitlements by US$7.13 million, representing a decrease of 46%. The Company added that a 50% reduction in the termination fee payable to Pala Investments in the event of a superior proposal, from C$15.5 million to C$7.75 million. The Company stated that continued repayment of the Company net debt by Pala Investments, leaving Nickel 28 without corporate debt and funded with US$5 million in cash. In addition, the Company stated that the annual general and special meeting of shareholders to consider the arrangement, which was previously scheduled for October 10, 2019, has been postponed and rescheduled to October 11, 2019.